ProShares UltraPro Dow30 (NYSEARCA:UDOW) Reaches New 12-Month High – Time to Buy?

ProShares UltraPro Dow30 (NYSEARCA:UDOW) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $103.10 and last traded at $102.92, with a volume of 751101 shares trading hands. The stock had previously closed at $94.21.

ProShares UltraPro Dow30 Stock Performance

The firm has a 50 day simple moving average of $93.85 and a 200 day simple moving average of $85.36.

Hedge Funds Weigh In On ProShares UltraPro Dow30

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new position in shares of ProShares UltraPro Dow30 during the 1st quarter valued at $655,000. Larson Financial Group LLC bought a new position in shares of ProShares UltraPro Dow30 during the 2nd quarter valued at $29,000. Ashton Thomas Private Wealth LLC lifted its holdings in shares of ProShares UltraPro Dow30 by 22.0% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 70,988 shares of the company’s stock valued at $5,580,000 after buying an additional 12,817 shares during the period. Edgestream Partners L.P. bought a new position in shares of ProShares UltraPro Dow30 during the 2nd quarter valued at $272,000. Finally, Smith Chas P & Associates PA Cpas bought a new position in shares of ProShares UltraPro Dow30 during the 3rd quarter valued at $240,000.

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.