ProShares Ultra Dow30 (NYSEARCA:DDM) Sees Large Decline in Short Interest

ProShares Ultra Dow30 (NYSEARCA:DDM) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 32,316 shares, a decrease of 66.4% from the July 15th total of 96,267 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 212,817 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. HRT Financial LP bought a new stake in ProShares Ultra Dow30 in the 4th quarter worth approximately $8,335,000. Focus Partners Wealth bought a new stake in shares of ProShares Ultra Dow30 in the fourth quarter worth $5,481,000. Northwestern Mutual Wealth Management Co. increased its position in ProShares Ultra Dow30 by 10,339.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 38,834 shares of the company’s stock valued at $2,208,000 after acquiring an additional 38,462 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in ProShares Ultra Dow30 by 32,044.8% in the second quarter. Tower Research Capital LLC TRC now owns 33,752 shares of the company’s stock worth $3,309,000 after purchasing an additional 33,647 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC boosted its position in ProShares Ultra Dow30 by 101.0% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 30,188 shares of the company’s stock worth $1,716,000 after purchasing an additional 15,170 shares during the last quarter.

ProShares Ultra Dow30 Price Performance

NYSEARCA DDM traded down $0.33 during trading hours on Friday, hitting $68.54. The company’s stock had a trading volume of 85,709 shares, compared to its average volume of 292,550. ProShares Ultra Dow30 has a 12 month low of $49.26 and a 12 month high of $71.25. The company’s 50 day simple moving average is $65.49 and its two-hundred day simple moving average is $60.47. The company has a market cap of $538.04 million, a P/E ratio of 20.98 and a beta of 1.73.

About ProShares Ultra Dow30

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.