ProShares Ultra Dow30 (NYSEARCA:DDM) Short Interest Up 56.2% in March

ProShares Ultra Dow30 (NYSEARCA:DDM) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 49,102 shares, an increase of 56.2% from the March 15th total of 31,430 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 401,828 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Global View Capital Management LLC raised its stake in ProShares Ultra Dow30 by 271.1% during the fourth quarter. Global View Capital Management LLC now owns 566,105 shares of the company’s stock valued at $32,189,000 after buying an additional 413,552 shares during the last quarter. GenWealth Group Inc. raised its stake in ProShares Ultra Dow30 by 105.8% during 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 last quarter. HRT Financial LP purchased a new position in ProShares Ultra Dow30 during the fourth quarter valued at $8,335,000. Focus Partners Wealth purchased a new position in ProShares Ultra Dow30 during the fourth quarter valued at $5,481,000. Finally, Capital Investment Counsel Inc raised its stake in ProShares Ultra Dow30 by 100.0% during 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 last quarter.

ProShares Ultra Dow30 Stock Performance

Shares of DDM traded down $0.19 on Wednesday, reaching $56.82. The stock had a trading volume of 179,001 shares, compared to its average volume of 410,107. The firm has a market capitalization of $502.86 million, a price-to-earnings ratio of 20.98 and a beta of 1.76. The company has a 50-day simple moving average of $55.94 and a 200-day simple moving average of $56.26. ProShares Ultra Dow30 has a 12-month low of $36.55 and a 12-month high of $62.35.

ProShares Ultra Dow30 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th were paid a dividend of $0.1553 per share. The ex-dividend date was Wednesday, March 25th. This is a positive change from ProShares Ultra Dow30’s previous quarterly dividend of $0.14. This represents a $0.62 dividend on an annualized basis and a yield of 1.1%.

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.