ProShares Ultra Dow30 (NYSEARCA:DDM) Sees Significant Growth in Short Interest

ProShares Ultra Dow30 (NYSEARCA:DDM) saw a significant growth in short interest in February. As of February 13th, there was short interest totaling 195,227 shares, a growth of 423.0% from the January 29th total of 37,327 shares. Based on an average trading volume of 356,700 shares, the days-to-cover ratio is presently 0.5 days. Approximately 2.2% of the company’s shares are short sold. Approximately 2.2% of the company’s shares are short sold. Based on an average trading volume of 356,700 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Cassaday & Co Wealth Management LLC increased its position in shares of ProShares Ultra Dow30 by 20.6% during the second quarter. Cassaday & Co Wealth Management LLC now owns 15,018 shares of the company’s stock worth $1,472,000 after acquiring an additional 2,569 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in ProShares Ultra Dow30 in the 2nd quarter valued at $209,000. WealthShield Partners LLC acquired a new position in ProShares Ultra Dow30 in the 2nd quarter worth $69,000. Flow Traders U.S. LLC bought a new position in ProShares Ultra Dow30 during the 2nd quarter worth about $1,005,000. Finally, Bank of America Corp DE increased its holdings in ProShares Ultra Dow30 by 106.4% during the 2nd quarter. Bank of America Corp DE now owns 3,096 shares of the company’s stock worth $304,000 after purchasing an additional 1,596 shares in the last quarter.

ProShares Ultra Dow30 Trading Down 2.1%

Shares of NYSEARCA DDM traded down $1.23 during mid-day trading on Friday, reaching $58.54. 299,741 shares of the company’s stock were exchanged, compared to its average volume of 418,484. ProShares Ultra Dow30 has a twelve month low of $34.54 and a twelve month high of $62.35. The firm has a market capitalization of $515.15 million, a price-to-earnings ratio of 20.98 and a beta of 1.84. The business has a fifty day simple moving average of $59.26 and a 200 day simple moving average of $55.79.

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.