ProShares Ultra Dow30 (NYSEARCA:DDM) Stock Price Break Above Fifty Day Moving Average – What’s Next?

ProShares Ultra Dow30 (NYSEARCA:DDM)’s stock price passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $64.63 and traded as high as $65.06. ProShares Ultra Dow30 shares last traded at $64.87, with a volume of 101,376 shares.

ProShares Ultra Dow30 Stock Up 0.5%

The stock has a 50 day simple moving average of $64.63 and a 200 day simple moving average of $61.57. The stock has a market cap of $518.96 million, a price-to-earnings ratio of 20.98 and a beta of 1.74.

Hedge Funds Weigh In On ProShares Ultra Dow30

A number of large investors have recently modified their holdings of DDM. IFP Advisors Inc increased its stake in ProShares Ultra Dow30 by 304.0% during the 2nd quarter. IFP Advisors Inc now owns 404 shares of the company’s stock valued at $26,000 after purchasing an additional 304 shares in the last quarter. Bogart Wealth LLC acquired a new position in ProShares Ultra Dow30 during the first quarter worth $37,000. Farther Finance Advisors LLC bought a new position in shares of ProShares Ultra Dow30 in the third quarter valued at $86,000. IMC Chicago LLC bought a new position in shares of ProShares Ultra Dow30 in the first quarter valued at $243,000. Finally, Independent Financial Group LLC bought a new position in shares of ProShares Ultra Dow30 in the first quarter valued at $297,000.

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.