ProShares Ultra Dow30 (NYSEARCA:DDM) Stock Short Interest Falls 54.6%

by · The Cerbat Gem

ProShares Ultra Dow30 (NYSEARCA:DDM – Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 128,001 shares, a drop of 54.6% from the August 31st total of 281,737 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 241,658 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On ProShares Ultra Dow30

Institutional investors have recently modified their holdings of the business. IFP Advisors Inc boosted its stake in ProShares Ultra Dow30 by 304.0% during the 2nd quarter. IFP Advisors Inc now owns 404 shares of the company’s stock worth $26,000 after purchasing an additional 304 shares during the period. Independent Financial Group LLC acquired a new position in ProShares Ultra Dow30 in the first quarter valued at $297,000. IMC Chicago LLC acquired a new position in ProShares Ultra Dow30 in the first quarter valued at $243,000. Schwallier Wealth Management LLC purchased a new stake in shares of ProShares Ultra Dow30 in the first quarter valued at about $407,000. Finally, Bogart Wealth LLC purchased a new stake in shares of ProShares Ultra Dow30 in the first quarter valued at about $37,000.

ProShares Ultra Dow30 Stock Down 0.5%

DDM traded down $0.31 during trading on Tuesday, hitting $62.33. 67,782 shares of the stock were exchanged, compared to its average volume of 273,402. The firm has a market capitalization of $501.76 million, a P/E ratio of 20.98 and a beta of 1.73. ProShares Ultra Dow30 has a 1-year low of $49.26 and a 1-year high of $71.25. The stock has a fifty day moving average price of $66.26 and a two-hundred day moving average price of $62.09.

About ProShares Ultra Dow30

(Get Free Report)

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.

Featured Stories