ProShares Ultra Dow30 (NYSEARCA:DDM) Hits New 52-Week High – What’s Next?

ProShares Ultra Dow30 (NYSEARCA:DDM) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $65.85 and last traded at $66.2910, with a volume of 38031 shares trading hands. The stock had previously closed at $64.40.

ProShares Ultra Dow30 Stock Performance

The company has a market cap of $577.61 million, a price-to-earnings ratio of 20.98 and a beta of 1.74. The firm’s 50-day moving average price is $60.82 and its 200 day moving average price is $58.43.

Institutional Trading of ProShares Ultra Dow30

Several institutional investors and hedge funds have recently made changes to their positions in DDM. CPR Investments Inc. boosted its position in shares of ProShares Ultra Dow30 by 277.8% in the 4th quarter. CPR Investments Inc. now owns 15,586 shares of the company’s stock worth $886,000 after purchasing an additional 11,460 shares during the last quarter. Global View Capital Management LLC increased its holdings in ProShares Ultra Dow30 by 271.1% in the fourth quarter. Global View Capital Management LLC now owns 566,105 shares of the company’s stock valued at $32,189,000 after purchasing an additional 413,552 shares during the last quarter. Capital Investment Counsel Inc lifted its stake in ProShares Ultra Dow30 by 100.0% in the fourth quarter. Capital Investment Counsel Inc now owns 66,050 shares of the company’s stock valued at $3,756,000 after buying an additional 33,025 shares during the period. GenWealth Group Inc. lifted its stake in ProShares Ultra Dow30 by 105.8% in the fourth quarter. GenWealth Group Inc. now owns 159,954 shares of the company’s stock valued at $9,620,000 after buying an additional 82,230 shares during the period. Finally, Koshinski Asset Management Inc. boosted its holdings in ProShares Ultra Dow30 by 113.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 26,743 shares of the company’s stock worth $1,521,000 after buying an additional 14,192 shares during the last quarter.

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.