ProShares Ultra Dow30 (NYSEARCA:DDM) Reaches New 52-Week High – Still a Buy?

ProShares Ultra Dow30 (NYSEARCA:DDM) shares hit a new 52-week high on Monday . The stock traded as high as $59.20 and last traded at $59.1520, with a volume of 283866 shares. The stock had previously closed at $57.53.

ProShares Ultra Dow30 Stock Performance

The stock has a market cap of $537.78 million, a PE ratio of 20.98 and a beta of 1.84. The stock has a fifty day simple moving average of $56.16 and a two-hundred day simple moving average of $52.89.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DDM. Capital Investment Advisory Services LLC grew its stake in shares of ProShares Ultra Dow30 by 7.4% in the third quarter. Capital Investment Advisory Services LLC now owns 3,738 shares of the company’s stock worth $401,000 after purchasing an additional 257 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in ProShares Ultra Dow30 in the third quarter worth about $44,000. Castleview Partners LLC grew its position in ProShares Ultra Dow30 by 20.2% in the 3rd quarter. Castleview Partners LLC now owns 3,226 shares of the company’s stock valued at $346,000 after buying an additional 542 shares in the last quarter. WealthShield Partners LLC acquired a new position in ProShares Ultra Dow30 during the 2nd quarter valued at about $69,000. Finally, GenWealth Group Inc. increased its stake in ProShares Ultra Dow30 by 1.9% during the 3rd quarter. GenWealth Group Inc. now owns 77,724 shares of the company’s stock valued at $8,338,000 after buying an additional 1,460 shares during the period.

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.