ProShares UltraPro Dow30 (NYSEARCA:UDOW) Reaches New 52-Week High – Should You Buy?

ProShares UltraPro Dow30 (NYSEARCA:UDOW)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $71.67 and last traded at $71.7840, with a volume of 697199 shares. The stock had previously closed at $70.09.

ProShares UltraPro Dow30 Stock Performance

The company has a market capitalization of $900.13 million, a price-to-earnings ratio of 20.47 and a beta of 2.59. The stock’s fifty day simple moving average is $64.35 and its two-hundred day simple moving average is $60.34.

Hedge Funds Weigh In On ProShares UltraPro Dow30

A number of hedge funds and other institutional investors have recently modified their holdings of UDOW. Two Sigma Securities LLC increased its position in shares of ProShares UltraPro Dow30 by 21.3% in the second quarter. Two Sigma Securities LLC now owns 5,491 shares of the company’s stock worth $518,000 after acquiring an additional 965 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of ProShares UltraPro Dow30 by 6.8% in the 2nd quarter. Corient Private Wealth LLC now owns 20,121 shares of the company’s stock valued at $1,900,000 after purchasing an additional 1,275 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of ProShares UltraPro Dow30 by 39.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 38,652 shares of the company’s stock valued at $3,650,000 after purchasing an additional 10,877 shares during the period. JPMorgan Chase & Co. lifted its position in shares of ProShares UltraPro Dow30 by 46.1% in the third quarter. JPMorgan Chase & Co. now owns 2,275 shares of the company’s stock worth $244,000 after purchasing an additional 718 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in ProShares UltraPro Dow30 in the 3rd quarter worth approximately $3,456,000.

About ProShares UltraPro Dow30

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.