ProShares Ultra Dow30 (NYSEARCA:DDM) Sees Large Drop in Short Interest

ProShares Ultra Dow30 (NYSEARCA:DDMGet Free Report) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 41,991 shares, a decline of 85.2% from the December 15th total of 284,274 shares. Based on an average daily trading volume, of 574,963 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.5% of the company’s shares are short sold. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 574,963 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DDM. Kingstone Capital Partners Texas LLC bought a new position in ProShares Ultra Dow30 during the second quarter valued at $48,478,000. GenWealth Group Inc. raised its holdings in shares of ProShares Ultra Dow30 by 7.9% in the second quarter. GenWealth Group Inc. now owns 76,264 shares of the company’s stock valued at $7,476,000 after acquiring an additional 5,591 shares in the last quarter. Chung Wu Investment Group LLC bought a new stake in ProShares Ultra Dow30 during the 2nd quarter valued at $510,000. Cassaday & Co Wealth Management LLC boosted its holdings in shares of ProShares Ultra Dow30 by 20.6% in the 2nd quarter. Cassaday & Co Wealth Management LLC now owns 15,018 shares of the company’s stock valued at $1,472,000 after buying an additional 2,569 shares in the last quarter. Finally, Meridian Wealth Management LLC acquired a new stake in shares of ProShares Ultra Dow30 in the 2nd quarter worth $209,000.

ProShares Ultra Dow30 Trading Down 1.2%

Shares of DDM stock traded down $0.70 during midday trading on Tuesday, reaching $59.71. 194,387 shares of the stock were exchanged, compared to its average volume of 425,882. ProShares Ultra Dow30 has a 1 year low of $34.54 and a 1 year high of $60.53. The company’s 50 day moving average is $56.60 and its two-hundred day moving average is $53.46. The firm has a market cap of $552.33 million, a PE ratio of 20.98 and a beta of 1.84.

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.

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