ProShares Ultra Dow30 (NYSEARCA:DDM) Reaches New 1-Year High – What’s Next?

ProShares Ultra Dow30 (NYSEARCA:DDM) shares reached a new 52-week high on Thursday . The company traded as high as $58.39 and last traded at $58.5090, with a volume of 267674 shares traded. The stock had previously closed at $57.12.

ProShares Ultra Dow30 Price Performance

The company has a market cap of $499.49 million, a P/E ratio of 20.98 and a beta of 1.84. The stock has a fifty day moving average price of $54.98 and a two-hundred day moving average price of $51.56.

Institutional Investors Weigh In On ProShares Ultra Dow30

Several institutional investors have recently made changes to their positions in the stock. Qube Research & Technologies Ltd purchased a new stake in shares of ProShares Ultra Dow30 in the 3rd quarter valued at about $44,000. WealthShield Partners LLC purchased a new stake in ProShares Ultra Dow30 during the 2nd quarter valued at $69,000. Meridian Wealth Management LLC bought a new stake in shares of ProShares Ultra Dow30 in the second quarter worth about $209,000. Bank of America Corp DE increased its stake in shares of ProShares Ultra Dow30 by 106.4% during the second quarter. Bank of America Corp DE now owns 3,096 shares of the company’s stock valued at $304,000 after buying an additional 1,596 shares during the period. Finally, Castleview Partners LLC raised its holdings in shares of ProShares Ultra Dow30 by 20.2% during the third quarter. Castleview Partners LLC now owns 3,226 shares of the company’s stock valued at $346,000 after acquiring an additional 542 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.