ProShares UltraPro Dow30 (NYSEARCA:UDOW) Hits New 1-Year High – Time to Buy?

ProShares UltraPro Dow30 (NYSEARCA:UDOW)’s share price hit a new 52-week high on Friday . The company traded as high as $64.12 and last traded at $64.0030, with a volume of 3304456 shares traded. The stock had previously closed at $60.17.

ProShares UltraPro Dow30 Stock Up 7.3%

The business’s 50 day moving average is $60.17 and its 200-day moving average is $55.05. The firm has a market capitalization of $810.23 million, a P/E ratio of 20.47 and a beta of 2.79.

Hedge Funds Weigh In On ProShares UltraPro Dow30

A number of institutional investors have recently modified their holdings of UDOW. Larson Financial Group LLC lifted its position in shares of ProShares UltraPro Dow30 by 100.8% during the 4th quarter. Larson Financial Group LLC now owns 749 shares of the company’s stock worth $43,000 after buying an additional 376 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in ProShares UltraPro Dow30 by 100.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,276 shares of the company’s stock worth $74,000 after acquiring an additional 638 shares in the last quarter. Comerica Bank raised its stake in ProShares UltraPro Dow30 by 100.0% during the fourth quarter. Comerica Bank now owns 2,000 shares of the company’s stock worth $116,000 after acquiring an additional 1,000 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of ProShares UltraPro Dow30 by 35.8% in the second quarter. SBI Securities Co. Ltd. now owns 1,563 shares of the company’s stock worth $148,000 after acquiring an additional 412 shares during the last quarter. Finally, Toth Financial Advisory Corp boosted its stake in shares of ProShares UltraPro Dow30 by 98.7% in the 4th quarter. Toth Financial Advisory Corp now owns 3,725 shares of the company’s stock valued at $216,000 after purchasing an additional 1,850 shares in 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.