ProShares UltraPro Dow30 (NYSEARCA:UDOW) Shares Up 3.5% – Should You Buy?

Shares of ProShares UltraPro Dow30 (NYSEARCA:UDOW) rose 3.5% during trading on Thursday . The company traded as high as $74.78 and last traded at $74.49. 1,207,637 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 3,244,515 shares. The stock had previously closed at $71.96.

ProShares UltraPro Dow30 Price Performance

The company has a market cap of $889.99 million, a P/E ratio of 20.47 and a beta of 2.60. The stock’s 50-day moving average is $72.09 and its two-hundred day moving average is $63.93.

Institutional Investors Weigh In On ProShares UltraPro Dow30

Hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC grew its holdings in ProShares UltraPro Dow30 by 100.0% during the 4th quarter. NewEdge Advisors LLC now owns 470 shares of the company’s stock valued at $27,000 after buying an additional 235 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of ProShares UltraPro Dow30 by 100.8% during the 4th quarter. Larson Financial Group LLC now owns 749 shares of the company’s stock valued at $43,000 after acquiring an additional 376 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its position in shares of ProShares UltraPro Dow30 by 107.7% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 858 shares of the company’s stock valued at $50,000 after acquiring an additional 445 shares during the last quarter. Group One Trading LLC purchased a new position in shares of ProShares UltraPro Dow30 in the first quarter valued at $52,000. Finally, O Shaughnessy Asset Management LLC grew 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 purchasing 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.