Meridian Wealth Management LLC Makes New $209,000 Investment in ProShares Ultra Dow30 $DDM

Meridian Wealth Management LLC purchased a new stake in ProShares Ultra Dow30 (NYSEARCA:DDM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,131 shares of the company’s stock, valued at approximately $209,000.

Other hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of ProShares Ultra Dow30 in the second quarter worth approximately $48,478,000. GenWealth Group Inc. raised its holdings in ProShares Ultra Dow30 by 7.9% during the 2nd quarter. GenWealth Group Inc. now owns 76,264 shares of the company’s stock worth $7,476,000 after purchasing an additional 5,591 shares during the last quarter. Cassaday & Co Wealth Management LLC lifted its position in shares of ProShares Ultra Dow30 by 20.6% in the 2nd quarter. Cassaday & Co Wealth Management LLC now owns 15,018 shares of the company’s stock worth $1,472,000 after purchasing an additional 2,569 shares during the period. Townsquare Capital LLC bought a new stake in shares of ProShares Ultra Dow30 in the 1st quarter valued at $754,000. Finally, Safe Harbor Fiduciary LLC increased its position in shares of ProShares Ultra Dow30 by 3.5% during the first quarter. Safe Harbor Fiduciary LLC now owns 5,229 shares of the company’s stock worth $478,000 after buying an additional 176 shares during the period.

ProShares Ultra Dow30 Stock Down 2.1%

Shares of NYSEARCA DDM opened at $105.14 on Wednesday. The company has a market capitalization of $452.10 million, a PE ratio of 20.98 and a beta of 1.84. ProShares Ultra Dow30 has a twelve month low of $69.07 and a twelve month high of $116.10. The firm has a fifty day simple moving average of $108.26 and a 200 day simple moving average of $100.51.

ProShares Ultra Dow30’s stock is set to split on the morning of Thursday, November 20th. The 2-1 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Wednesday, November 19th.

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.