ProShares Ultra Dow30 (NYSEARCA:DDM) Sets New 12-Month High – Time to Buy?

ProShares Ultra Dow30 (NYSEARCA:DDM)’s stock price reached a new 52-week high on Friday . The company traded as high as $64.29 and last traded at $63.2460, with a volume of 61169 shares changing hands. The stock had previously closed at $64.04.

ProShares Ultra Dow30 Trading Down 2.7%

The business’s 50-day simple moving average is $58.13 and its two-hundred day simple moving average is $57.61. The company has a market capitalization of $554.29 million, a PE ratio of 20.98 and a beta of 1.74.

Hedge Funds Weigh In On ProShares Ultra Dow30

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DDM. PNC Financial Services Group Inc. boosted its position in ProShares Ultra Dow30 by 100.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 500 shares of the company’s stock valued at $28,000 after buying an additional 250 shares during the last quarter. Bogart Wealth LLC bought a new position in shares of ProShares Ultra Dow30 during the first quarter worth about $37,000. Qube Research & Technologies Ltd bought a new position in shares of ProShares Ultra Dow30 during the third quarter worth about $44,000. WealthShield Partners LLC lifted its position in shares of ProShares Ultra Dow30 by 100.0% during the fourth quarter. WealthShield Partners LLC now owns 1,404 shares of the company’s stock worth $80,000 after purchasing an additional 702 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of ProShares Ultra Dow30 by 435.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,993 shares of the company’s stock worth $113,000 after purchasing an additional 1,621 shares during the last quarter.

ProShares Ultra Dow30 Company Profile

The ProShares Ultra Dow30 (DDM) is an exchange-traded fund that is based on the Dow Jones Industrial Average index. The fund provides 2x leveraged exposure to the price-weighted Dow Jones Industrial Average, which includes 30 of the largest and most stable US companies. DDM was launched on Jun 19, 2006 and is managed by ProShares.