ProShares UltraPro Dow30 (NYSEARCA:UDOW) Reaches New 1-Year High – Here’s Why

ProShares UltraPro Dow30 (NYSEARCA:UDOW)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $70.78 and last traded at $71.4180, with a volume of 413888 shares changing hands. The stock had previously closed at $68.42.

ProShares UltraPro Dow30 Stock Performance

The stock has a 50 day moving average of $63.47 and a 200 day moving average of $59.99. The stock has a market capitalization of $901.79 million, a P/E ratio of 20.47 and a beta of 2.61.

Hedge Funds Weigh In On ProShares UltraPro Dow30

Several institutional investors have recently modified their holdings of UDOW. FNY Investment Advisers LLC bought a new stake in ProShares UltraPro Dow30 in the 4th quarter valued at about $1,546,000. Golden State Equity Partners grew its position in ProShares UltraPro Dow30 by 90.2% in the 4th quarter. Golden State Equity Partners now owns 18,476 shares of the company’s stock worth $1,070,000 after purchasing an additional 8,763 shares during the last quarter. IMC Chicago LLC increased its stake in shares of ProShares UltraPro Dow30 by 37.6% in the fourth quarter. IMC Chicago LLC now owns 62,249 shares of the company’s stock valued at $3,605,000 after purchasing an additional 17,023 shares during the period. Encompass More Asset Management increased its stake in shares of ProShares UltraPro Dow30 by 40.0% in the fourth quarter. Encompass More Asset Management now owns 45,130 shares of the company’s stock valued at $2,613,000 after purchasing an additional 12,895 shares during the period. Finally, Spire Wealth Management raised its holdings in shares of ProShares UltraPro Dow30 by 6,341.0% during the fourth quarter. Spire Wealth Management now owns 15,716 shares of the company’s stock valued at $910,000 after buying an additional 15,472 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.