ProShares UltraPro Dow30 (NYSEARCA:UDOW) Share Price Cross Below 50-Day Moving Average – Here’s What Happened

ProShares UltraPro Dow30 (NYSEARCA:UDOW) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $67.99 and traded as low as $66.45. ProShares UltraPro Dow30 shares last traded at $66.71, with a volume of 2,987,489 shares traded.

ProShares UltraPro Dow30 Price Performance

The firm has a market cap of $797.18 million, a P/E ratio of 20.47 and a beta of 2.60. The stock’s 50-day simple moving average is $67.99 and its two-hundred day simple moving average is $61.74.

Hedge Funds Weigh In On ProShares UltraPro Dow30

Several hedge funds have recently added to or reduced their stakes in UDOW. NewEdge Advisors LLC raised its position in ProShares UltraPro Dow30 by 100.0% in the 4th quarter. NewEdge Advisors LLC now owns 470 shares of the company’s stock worth $27,000 after purchasing an additional 235 shares during the period. Larson Financial Group LLC boosted its position in shares of ProShares UltraPro Dow30 by 100.8% during the fourth quarter. Larson Financial Group LLC now owns 749 shares of the company’s stock valued at $43,000 after buying an additional 376 shares during the period. Federation des caisses Desjardins du Quebec boosted its position in shares of ProShares UltraPro Dow30 by 107.7% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 858 shares of the company’s stock valued at $50,000 after buying an additional 445 shares during the period. Group One Trading LLC purchased a new position in shares of ProShares UltraPro Dow30 during the first quarter valued at approximately $52,000. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of ProShares UltraPro Dow30 by 100.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,150 shares of the company’s stock valued at $67,000 after buying an additional 575 shares during 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. The Index includes 30 large-cap, blue-chip United States stocks, excluding utility and transportation companies. The Fund invests in common stock issued by public companies.