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

Shares of ProShares UltraPro Dow30 (NYSEARCA:UDOW) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $70.78 and last traded at $71.4180, with a volume of 413888 shares. The stock had previously closed at $68.42.

ProShares UltraPro Dow30 Trading Up 1.1%

The firm has a 50-day moving average of $63.02 and a 200 day moving average of $59.86. The stock has a market capitalization of $916.33 million, a price-to-earnings ratio of 20.47 and a beta of 2.61.

Institutional Trading of ProShares UltraPro Dow30

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in shares of ProShares UltraPro Dow30 by 100.0% in the fourth quarter. NewEdge Advisors LLC now owns 470 shares of the company’s stock valued at $27,000 after acquiring an additional 235 shares in the last quarter. Larson Financial Group LLC lifted its position in ProShares UltraPro Dow30 by 100.8% in the fourth quarter. Larson Financial Group LLC now owns 749 shares of the company’s stock worth $43,000 after purchasing an additional 376 shares during the period. Federation des caisses Desjardins du Quebec lifted its position in ProShares UltraPro Dow30 by 107.7% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 858 shares of the company’s stock worth $50,000 after purchasing an additional 445 shares during the period. Group One Trading LLC acquired a new stake in ProShares UltraPro Dow30 in the first quarter worth approximately $52,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in ProShares UltraPro Dow30 by 100.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,150 shares of the company’s stock valued at $67,000 after purchasing an additional 575 shares in the last quarter.

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.