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

ProShares Ultra Dow30 (NYSEARCA:DDM) saw a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 37,327 shares, a decline of 86.2% from the January 15th total of 270,302 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 508,687 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 508,687 shares, the short-interest ratio is presently 0.1 days. Approximately 0.4% of the company’s shares are sold short.

Institutional Trading of ProShares Ultra Dow30

A number of hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in shares of ProShares Ultra Dow30 by 100.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 500 shares of the company’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. Capital Investment Advisory Services LLC grew its position in shares of ProShares Ultra Dow30 by 7.4% during the 3rd 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 bought a new position in shares of ProShares Ultra Dow30 during the third quarter worth approximately $44,000. Castleview Partners LLC boosted its stake in shares of ProShares Ultra Dow30 by 20.2% in the third quarter. Castleview Partners LLC now owns 3,226 shares of the company’s stock valued at $346,000 after buying an additional 542 shares during the period. Finally, WealthShield Partners LLC acquired a new stake in ProShares Ultra Dow30 during the second quarter worth approximately $69,000.

ProShares Ultra Dow30 Trading Down 0.0%

Shares of NYSEARCA:DDM traded down $0.02 during midday trading on Wednesday, hitting $61.50. The company had a trading volume of 132,338 shares, compared to its average volume of 499,207. ProShares Ultra Dow30 has a 12 month low of $34.54 and a 12 month high of $62.35. The firm has a fifty day simple moving average of $58.59 and a 200 day simple moving average of $54.91. The stock has a market cap of $541.19 million, a price-to-earnings ratio of 20.98 and a beta of 1.84.

ProShares Ultra Dow30 Company Profile

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.