ProShares UltraPro Dow30 (NYSEARCA:UDOW) Sets New 12-Month High – Still a Buy?

ProShares UltraPro Dow30 (NYSEARCA:UDOW)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $76.02 and last traded at $75.2480, with a volume of 551127 shares. The stock had previously closed at $72.84.

ProShares UltraPro Dow30 Stock Performance

The firm’s fifty day simple moving average is $68.40 and its 200-day simple moving average is $61.91. The stock has a market cap of $909.79 million, a P/E ratio of 20.47 and a beta of 2.60.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Golden State Equity Partners grew its holdings in ProShares UltraPro Dow30 by 90.2% during the fourth quarter. Golden State Equity Partners now owns 18,476 shares of the company’s stock worth $1,070,000 after buying an additional 8,763 shares in the last quarter. Koshinski Asset Management Inc. increased its stake in shares of ProShares UltraPro Dow30 by 206.1% in the first quarter. Koshinski Asset Management Inc. now owns 12,609 shares of the company’s stock worth $633,000 after purchasing an additional 8,490 shares in the last quarter. Corient Private Wealth LLC raised its holdings in ProShares UltraPro Dow30 by 72.6% during the 4th quarter. Corient Private Wealth LLC now owns 24,030 shares of the company’s stock valued at $1,392,000 after acquiring an additional 10,110 shares during the period. IMC Chicago LLC lifted its holdings in ProShares UltraPro Dow30 by 37.6% during the 4th quarter. IMC Chicago LLC now owns 62,249 shares of the company’s stock worth $3,605,000 after purchasing an additional 17,023 shares in the last quarter. Finally, Optiver Holding B.V. boosted its position in shares of ProShares UltraPro Dow30 by 115.7% in the first quarter. Optiver Holding B.V. now owns 64,567 shares of the company’s stock valued at $3,240,000 after acquiring an additional 34,635 shares during the period.

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.