ProShares UltraPro Dow30 (NYSEARCA:UDOW) Sees Large Drop in Short Interest

ProShares UltraPro Dow30 (NYSEARCA:UDOW) was the recipient of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 475,900 shares, a drop of 36.0% from the May 15th total of 744,000 shares. Based on an average daily trading volume, of 2,540,300 shares, the days-to-cover ratio is currently 0.2 days. Currently, 5.9% of the shares of the company are short sold.

ProShares UltraPro Dow30 Price Performance

ProShares UltraPro Dow30 stock traded down $2.07 during mid-day trading on Tuesday, hitting $83.60. 1,167,766 shares of the company were exchanged, compared to its average volume of 2,537,320. The business’s 50 day simple moving average is $79.73 and its two-hundred day simple moving average is $91.11. ProShares UltraPro Dow30 has a 12-month low of $56.90 and a 12-month high of $113.78. The company has a market capitalization of $672.94 million, a P/E ratio of 20.47 and a beta of 2.79.

Institutional Investors Weigh In On ProShares UltraPro Dow30

Several hedge funds and other institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC acquired a new position in shares of ProShares UltraPro Dow30 during the fourth quarter worth approximately $74,000. SBI Securities Co. Ltd. acquired a new stake in shares of ProShares UltraPro Dow30 during the 4th quarter valued at $94,000. JPMorgan Chase & Co. boosted its position in shares of ProShares UltraPro Dow30 by 41.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,646 shares of the company’s stock valued at $250,000 after purchasing an additional 781 shares during the period. Simplex Trading LLC raised its position in ProShares UltraPro Dow30 by 343.8% during the fourth quarter. Simplex Trading LLC now owns 24,732 shares of the company’s stock valued at $2,338,000 after buying an additional 19,159 shares during the period. Finally, Millington Financial Advisors LLC lifted its position in shares of ProShares UltraPro Dow30 by 2.0% in the fourth quarter. Millington Financial Advisors LLC now owns 9,382 shares of the company’s stock worth $887,000 after purchasing an additional 185 shares in the last quarter.

About ProShares UltraPro Dow30

ProShares UltraPro Dow30 seeks daily investment results, before fees and expenses, that correspond to triple (300%) the daily performance of the Dow Jones Industrial Average Index. The Fund invests in equity securities and derivatives that have similar daily performance characteristics as three times (300%) the daily return of the Index.