ProShares Ultra Dow30 (NYSEARCA:DDM) Sets New 12-Month High – Here’s Why

ProShares Ultra Dow30 (NYSEARCA:DDM) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $66.44 and last traded at $66.4950, with a volume of 55138 shares changing hands. The stock had previously closed at $65.53.

ProShares Ultra Dow30 Price Performance

The company has a market cap of $584.05 million, a PE ratio of 20.98 and a beta of 1.74. The company’s 50 day simple moving average is $61.41 and its two-hundred day simple moving average is $58.67.

Hedge Funds Weigh In On ProShares Ultra Dow30

A number of hedge funds have recently made changes to their positions in DDM. Qube Research & Technologies Ltd acquired a new stake in ProShares Ultra Dow30 in the 3rd quarter valued at approximately $44,000. PNC Financial Services Group Inc. boosted its position in shares of ProShares Ultra Dow30 by 100.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 500 shares of the company’s stock worth $28,000 after buying an additional 250 shares during the period. Bogart Wealth LLC purchased a new position in shares of ProShares Ultra Dow30 during the first quarter worth $37,000. WealthShield Partners LLC grew its stake in shares of ProShares Ultra Dow30 by 100.0% in the fourth quarter. WealthShield Partners LLC now owns 1,404 shares of the company’s stock valued at $80,000 after buying an additional 702 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of ProShares Ultra Dow30 by 435.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,993 shares of the company’s stock valued at $113,000 after buying an additional 1,621 shares in the last quarter.

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.