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

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

ProShares UltraPro Dow30 Stock Up 1.1%

The company has a 50 day moving average of $63.02 and a two-hundred day moving average of $59.86. The firm has a market cap of $916.33 million, a P/E ratio of 20.47 and a beta of 2.61.

Hedge Funds Weigh In On ProShares UltraPro Dow30

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

ProShares UltraPro Dow30 Company Profile

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.