ProShares UltraPro Dow30 (NYSEARCA:UDOW) Trading Up 16.1% – Here’s Why

ProShares UltraPro Dow30 (NYSEARCA:UDOW) rose 16.1% on Wednesday . The stock traded as high as $71.43 and last traded at $72.22. Approximately 6,056,941 shares traded hands during trading, an increase of 127% from the average daily volume of 2,670,380 shares. The stock had previously closed at $62.18.

ProShares UltraPro Dow30 Price Performance

The firm has a 50 day moving average of $91.19 and a two-hundred day moving average of $97.55. The stock has a market cap of $540.78 million, a PE ratio of 20.78 and a beta of 2.76.

ProShares UltraPro Dow30 Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were given a dividend of $0.3172 per share. The ex-dividend date was Wednesday, March 26th. This is an increase from ProShares UltraPro Dow30’s previous dividend of $0.31.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of UDOW. JPMorgan Chase & Co. purchased a new stake in ProShares UltraPro Dow30 in the third quarter valued at $179,000. SBI Securities Co. Ltd. acquired a new stake in shares of ProShares UltraPro Dow30 during the fourth quarter worth about $94,000. Simplex Trading LLC lifted its holdings in shares of ProShares UltraPro Dow30 by 343.8% in the 4th quarter. Simplex Trading LLC now owns 24,732 shares of the company’s stock valued at $2,338,000 after purchasing an additional 19,159 shares during the last quarter. Independent Advisor Alliance acquired a new stake in shares of ProShares UltraPro Dow30 in the 4th quarter valued at about $228,000. Finally, EverSource Wealth Advisors LLC purchased a new position in ProShares UltraPro Dow30 during the 4th quarter worth approximately $60,000.

ProShares UltraPro Dow30 Company Profile

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.