ProShares UltraPro Dow30 (NYSEARCA:UDOW) Hits New 52-Week High – Should You Buy?

ProShares UltraPro Dow30 (NYSEARCA:UDOW) hit a new 52-week high on Friday . The company traded as high as $68.39 and last traded at $66.6940, with a volume of 1929271 shares. The stock had previously closed at $68.00.

ProShares UltraPro Dow30 Price Performance

The stock has a market capitalization of $875.52 million, a PE ratio of 20.47 and a beta of 2.61. The stock’s 50 day simple moving average is $58.80 and its two-hundred day simple moving average is $58.68.

Institutional Trading of ProShares UltraPro Dow30

A number of institutional investors have recently modified their holdings of the business. Spectrum Financial Alliance Ltd LLC increased its holdings in ProShares UltraPro Dow30 by 150.5% during the 1st quarter. Spectrum Financial Alliance Ltd LLC now owns 88,732 shares of the company’s stock worth $4,453,000 after acquiring an additional 53,304 shares during the period. Jump Financial LLC bought a new stake in ProShares UltraPro Dow30 during the 4th quarter worth approximately $2,751,000. Squarepoint Ops LLC bought a new stake in ProShares UltraPro Dow30 during the 4th quarter worth approximately $2,533,000. Optiver Holding B.V. increased its holdings in ProShares UltraPro Dow30 by 115.7% during the 1st quarter. Optiver Holding B.V. now owns 64,567 shares of the company’s stock worth $3,240,000 after acquiring an additional 34,635 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of ProShares UltraPro Dow30 in the 3rd quarter worth $3,456,000.

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. 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.