ProShares UltraPro Dow30 (NYSEARCA:UDOW) Short Interest Down 34.2% in March

ProShares UltraPro Dow30 (NYSEARCA:UDOW) was the target of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 826,936 shares, a decline of 34.2% from the February 26th total of 1,257,580 shares. Based on an average daily volume of 5,297,890 shares, the days-to-cover ratio is currently 0.2 days. Currently, 6.6% of the shares of the stock are sold short.

ProShares UltraPro Dow30 Trading Up 0.4%

Shares of NYSEARCA:UDOW traded up $0.18 during trading on Monday, reaching $46.73. The company had a trading volume of 5,128,340 shares, compared to its average volume of 4,842,462. The company has a fifty day moving average of $58.00 and a two-hundred day moving average of $56.95. The stock has a market capitalization of $586.46 million, a P/E ratio of 20.47 and a beta of 2.79. ProShares UltraPro Dow30 has a 12 month low of $28.45 and a 12 month high of $66.21.

ProShares UltraPro Dow30 Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be given a dividend of $0.1437 per share. The ex-dividend date is Wednesday, March 25th. This represents a $0.57 dividend on an annualized basis and a yield of 1.2%.

Hedge Funds Weigh In On ProShares UltraPro Dow30

Large investors have recently modified their holdings of the company. Flow Traders U.S. LLC boosted its stake in ProShares UltraPro Dow30 by 139.0% in the second quarter. Flow Traders U.S. LLC now owns 64,238 shares of the company’s stock worth $6,065,000 after buying an additional 37,357 shares in the last quarter. IMC Chicago LLC raised its position in ProShares UltraPro Dow30 by 37.6% in 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 during the period. Jump Financial LLC purchased a new stake in ProShares UltraPro Dow30 during the fourth quarter valued at about $2,751,000. Encompass More Asset Management increased its holdings in shares of ProShares UltraPro Dow30 by 40.0% in the fourth quarter. Encompass More Asset Management now owns 45,130 shares of the company’s stock worth $2,613,000 after buying an additional 12,895 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in ProShares UltraPro Dow30 during the 4th quarter valued at about $2,533,000.

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.