ProShares UltraPro Dow30 (NYSEARCA:UDOW) Stock Price Cross Below 200 Day Moving Average – Here’s Why

ProShares UltraPro Dow30 (NYSEARCA:UDOW) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $64.33 and traded as low as $63.81. ProShares UltraPro Dow30 shares last traded at $63.91, with a volume of 4,457,600 shares changing hands.

ProShares UltraPro Dow30 Price Performance

The firm has a market capitalization of $821.24 million, a P/E ratio of 20.47 and a beta of 2.59. The firm’s 50 day moving average is $67.46 and its two-hundred day moving average is $64.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Optiver Holding B.V. lifted its stake in ProShares UltraPro Dow30 by 115.7% in the 1st quarter. Optiver Holding B.V. now owns 64,567 shares of the company’s stock valued at $3,240,000 after purchasing an additional 34,635 shares during the last quarter. Strategic Investment Advisors MI bought a new position in ProShares UltraPro Dow30 during the first quarter worth about $231,000. Group One Trading LLC acquired a new position in ProShares UltraPro Dow30 during the first quarter worth approximately $52,000. Fifth Third Bancorp acquired a new position in ProShares UltraPro Dow30 during the first quarter worth approximately $100,000. Finally, Spectrum Financial Alliance Ltd LLC increased its position in ProShares UltraPro Dow30 by 150.5% during the first quarter. Spectrum Financial Alliance Ltd LLC now owns 88,732 shares of the company’s stock worth $4,453,000 after buying an additional 53,304 shares during the last quarter.

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. 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.