ProShares Ultra Dow30 (NYSEARCA:DDM) Reaches New 52-Week High – Time to Buy?

ProShares Ultra Dow30 (NYSEARCA:DDM)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $65.85 and last traded at $66.2910, with a volume of 38031 shares traded. The stock had previously closed at $64.40.

ProShares Ultra Dow30 Stock Performance

The firm’s 50 day moving average price is $61.12 and its two-hundred day moving average price is $58.53. The company has a market cap of $571.02 million, a P/E ratio of 20.98 and a beta of 1.74.

Hedge Funds Weigh In On ProShares Ultra Dow30

Institutional investors have recently made changes to their positions in the stock. Independent Financial Group LLC bought a new position in shares of ProShares Ultra Dow30 during the 1st quarter worth about $297,000. IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Dow30 in the 1st quarter valued at about $243,000. Schwallier Wealth Management LLC bought a new stake in ProShares Ultra Dow30 in the 1st quarter valued at about $407,000. Bogart Wealth LLC bought a new stake in ProShares Ultra Dow30 in the 1st quarter valued at about $37,000. Finally, Koshinski Asset Management Inc. raised its stake in ProShares Ultra Dow30 by 3.2% during the 1st quarter. Koshinski Asset Management Inc. now owns 27,599 shares of the company’s stock worth $1,437,000 after buying an additional 856 shares during the period.

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.