ProShares Ultra Dow30 (NYSEARCA:DDM) Short Interest Up 151.6% in July

ProShares Ultra Dow30 (NYSEARCA:DDM) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 96,267 shares, a growth of 151.6% from the June 30th total of 38,261 shares. Based on an average trading volume of 186,936 shares, the short-interest ratio is currently 0.5 days. Approximately 1.2% of the shares of the company are sold short.

ProShares Ultra Dow30 Stock Down 4.3%

Shares of NYSEARCA:DDM opened at $63.52 on Thursday. ProShares Ultra Dow30 has a fifty-two week low of $47.15 and a fifty-two week high of $68.00. The firm’s 50-day simple moving average is $64.13 and its 200-day simple moving average is $59.79. The company has a market cap of $508.16 million, a price-to-earnings ratio of 20.98 and a beta of 1.73.

Institutional Investors Weigh In On ProShares Ultra Dow30

Hedge funds have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd acquired a new position in ProShares Ultra Dow30 during the 3rd quarter worth approximately $44,000. PNC Financial Services Group Inc. raised its stake in shares of ProShares Ultra Dow30 by 100.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 500 shares of the company’s stock worth $28,000 after buying an additional 250 shares in the last quarter. Bogart Wealth LLC purchased a new position in shares of ProShares Ultra Dow30 during the 1st quarter worth approximately $37,000. WealthShield Partners LLC lifted its holdings in shares of ProShares Ultra Dow30 by 100.0% in the 4th quarter. WealthShield Partners LLC now owns 1,404 shares of the company’s stock valued at $80,000 after buying an additional 702 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ProShares Ultra Dow30 by 435.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,993 shares of the company’s stock valued at $113,000 after buying an additional 1,621 shares during the period.

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.