ProShares Ultra Dow30 (NYSEARCA:DDM) Shares Down 0.2% – Should You Sell?

ProShares Ultra Dow30 (NYSEARCA:DDM) fell 0.2% during trading on Thursday . The company traded as low as $95.40 and last traded at $96.12. 149,807 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 282,652 shares. The stock had previously closed at $96.34.

ProShares Ultra Dow30 Price Performance

The stock has a market capitalization of $479.61 million, a price-to-earnings ratio of 18.43 and a beta of 1.48. The stock’s 50 day simple moving average is $90.95 and its 200-day simple moving average is $86.20.

Hedge Funds Weigh In On ProShares Ultra Dow30

Institutional investors have recently modified their holdings of the company. WealthShield Partners LLC bought a new stake in shares of ProShares Ultra Dow30 in the second quarter valued at approximately $58,000. GenWealth Group Inc. grew its position in ProShares Ultra Dow30 by 12.3% in the 1st quarter. GenWealth Group Inc. now owns 66,552 shares of the company’s stock worth $5,795,000 after purchasing an additional 7,285 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of ProShares Ultra Dow30 during the 1st quarter worth about $145,000. Squarepoint Ops LLC acquired a new position in shares of ProShares Ultra Dow30 during the second quarter valued at about $219,000. Finally, CPR Investments Inc. lifted its stake in shares of ProShares Ultra Dow30 by 41.3% in the second quarter. CPR Investments Inc. now owns 50,563 shares of the company’s stock valued at $4,195,000 after buying an additional 14,788 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.