ProShares Ultra Dow30 (NYSEARCA:DDM) Short Interest Down 48.8% in May

ProShares Ultra Dow30 (NYSEARCA:DDM) saw a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 39,648 shares, a decrease of 48.8% from the May 14th total of 77,456 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 132,186 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Independent Financial Group LLC bought a new position in ProShares Ultra Dow30 during the first quarter valued at approximately $297,000. IMC Chicago LLC bought a new position in ProShares Ultra Dow30 during the first quarter valued at approximately $243,000. Schwallier Wealth Management LLC bought a new position in ProShares Ultra Dow30 during the first quarter valued at approximately $407,000. Bogart Wealth LLC bought a new position in ProShares Ultra Dow30 during the first quarter valued at approximately $37,000. Finally, Koshinski Asset Management Inc. lifted its position in ProShares Ultra Dow30 by 3.2% during the first quarter. Koshinski Asset Management Inc. now owns 27,599 shares of the company’s stock valued at $1,437,000 after purchasing an additional 856 shares during the period.

ProShares Ultra Dow30 Stock Up 1.4%

Shares of ProShares Ultra Dow30 stock opened at $63.01 on Friday. The company has a market cap of $560.79 million, a price-to-earnings ratio of 20.98 and a beta of 1.74. The company’s 50 day moving average is $59.22 and its 200 day moving average is $57.93. ProShares Ultra Dow30 has a twelve month low of $44.65 and a twelve month high of $64.29.

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.