ProShares Ultra Dow30 (NYSEARCA:DDM) Sees Significant Decrease in Short Interest

ProShares Ultra Dow30 (NYSEARCA:DDM) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 38,261 shares, a decline of 53.8% from the June 15th total of 82,767 shares. Based on an average trading volume of 158,254 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.5% of the shares of the company are short sold.

Hedge Funds Weigh In On ProShares Ultra Dow30

Institutional investors and hedge funds have recently modified their holdings of the company. Global View Capital Management LLC increased its position 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 acquiring an additional 413,552 shares during the last quarter. HRT Financial LP bought a new stake in shares of ProShares Ultra Dow30 during the 4th quarter valued at about $8,335,000. Focus Partners Wealth bought a new stake in shares of ProShares Ultra Dow30 during the 4th quarter valued at about $5,481,000. GenWealth Group Inc. increased its position in shares of ProShares Ultra Dow30 by 105.8% during the 4th quarter. GenWealth Group Inc. now owns 159,954 shares of the company’s stock valued at $9,620,000 after purchasing an additional 82,230 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of ProShares Ultra Dow30 by 10,339.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 38,834 shares of the company’s stock valued at $2,208,000 after purchasing an additional 38,462 shares during the last quarter.

ProShares Ultra Dow30 Stock Performance

Shares of DDM traded up $0.21 during mid-day trading on Tuesday, hitting $66.13. 20,932 shares of the company traded hands, compared to its average volume of 306,122. The stock has a market cap of $545.54 million, a price-to-earnings ratio of 20.98 and a beta of 1.73. The stock has a 50-day moving average price of $62.79 and a two-hundred day moving average price of $59.22. ProShares Ultra Dow30 has a 1 year low of $47.15 and a 1 year high of $68.00.

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.