ProShares Ultra Dow30 (NYSEARCA:DDM) Short Interest Up 598.9% in August

ProShares Ultra Dow30 (NYSEARCA:DDM) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 225,872 shares, an increase of 598.9% from the July 30th total of 32,316 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average trading volume of 208,310 shares, the short-interest ratio is presently 1.1 days.

ProShares Ultra Dow30 Trading Up 0.7%

DDM traded up $0.50 on Thursday, hitting $68.45. 35,528 shares of the company’s stock traded hands, compared to its average volume of 281,953. The company’s 50 day simple moving average is $66.39 and its 200-day simple moving average is $61.02. The firm has a market cap of $537.32 million, a price-to-earnings ratio of 20.98 and a beta of 1.73. ProShares Ultra Dow30 has a one year low of $49.26 and a one year high of $71.25.

Institutional Investors Weigh In On ProShares Ultra Dow30

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake in ProShares Ultra Dow30 by 100.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 500 shares of the company’s stock worth $28,000 after acquiring an additional 250 shares during the last quarter. Bogart Wealth LLC purchased a new position in shares of ProShares Ultra Dow30 in the first quarter valued at $37,000. Qube Research & Technologies Ltd bought a new stake in ProShares Ultra Dow30 in the third quarter worth $44,000. WealthShield Partners LLC raised its stake in ProShares Ultra Dow30 by 100.0% during the fourth quarter. WealthShield Partners LLC now owns 1,404 shares of the company’s stock valued at $80,000 after purchasing an additional 702 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in ProShares Ultra Dow30 by 435.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,993 shares of the company’s stock valued at $113,000 after purchasing an additional 1,621 shares in the last quarter.

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.