ProShares Ultra Dow30 (NYSEARCA:DDM) Short Interest Down 43.1% in April

ProShares Ultra Dow30 (NYSEARCA:DDM) saw a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 100,301 shares, a decrease of 43.1% from the April 15th total of 176,424 shares. Based on an average daily volume of 166,327 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.1% of the company’s shares are sold short.

Hedge Funds Weigh In On ProShares Ultra Dow30

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in shares of ProShares Ultra Dow30 by 100.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 500 shares of the company’s stock worth $28,000 after acquiring an additional 250 shares during the period. Bogart Wealth LLC purchased a new position in shares of ProShares Ultra Dow30 during the first quarter worth approximately $37,000. Qube Research & Technologies Ltd purchased a new position in shares of ProShares Ultra Dow30 during the third quarter worth approximately $44,000. WealthShield Partners LLC increased its position in shares of ProShares Ultra Dow30 by 100.0% during the fourth quarter. WealthShield Partners LLC now owns 1,404 shares of the company’s stock worth $80,000 after acquiring an additional 702 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of ProShares Ultra Dow30 by 435.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,993 shares of the company’s stock worth $113,000 after acquiring an additional 1,621 shares during the period.

ProShares Ultra Dow30 Price Performance

ProShares Ultra Dow30 stock opened at $59.45 on Tuesday. The firm has a market capitalization of $529.11 million, a P/E ratio of 20.98 and a beta of 1.74. The company’s 50-day moving average is $55.74 and its 200 day moving average is $57.02. ProShares Ultra Dow30 has a 1-year low of $43.42 and a 1-year high of $62.35.

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.