ProShares UltraPro Dow30 (NYSEARCA:UDOW) Short Interest Up 53.8% in December

ProShares UltraPro Dow30 (NYSEARCA:UDOW) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 1,379,552 shares, an increase of 53.8% from the November 30th total of 896,738 shares. Based on an average trading volume of 3,562,621 shares, the days-to-cover ratio is presently 0.4 days. Currently, 11.2% of the company’s shares are sold short. Currently, 11.2% of the company’s shares are sold short. Based on an average trading volume of 3,562,621 shares, the days-to-cover ratio is presently 0.4 days.

ProShares UltraPro Dow30 Trading Down 0.4%

UDOW stock traded down $0.24 during midday trading on Tuesday, hitting $59.15. The company had a trading volume of 1,381,798 shares, compared to its average volume of 4,773,544. The stock has a market cap of $727.55 million, a price-to-earnings ratio of 20.47 and a beta of 2.79. ProShares UltraPro Dow30 has a 52 week low of $28.45 and a 52 week high of $61.39. The stock’s 50 day moving average price is $56.71 and its 200 day moving average price is $52.03.

Hedge Funds Weigh In On ProShares UltraPro Dow30

Several hedge funds and other institutional investors have recently modified their holdings of UDOW. Encompass More Asset Management lifted its holdings in ProShares UltraPro Dow30 by 191.1% in the 3rd quarter. Encompass More Asset Management now owns 32,235 shares of the company’s stock worth $3,451,000 after buying an additional 21,162 shares during the period. Citizens Financial Group Inc. RI purchased a new stake in ProShares UltraPro Dow30 in the second quarter worth $368,000. Flow Traders U.S. LLC boosted its holdings in ProShares UltraPro Dow30 by 139.0% in the second quarter. Flow Traders U.S. LLC now owns 64,238 shares of the company’s stock valued at $6,065,000 after acquiring an additional 37,357 shares in the last quarter. Simplex Trading LLC boosted its holdings in ProShares UltraPro Dow30 by 237.8% in the second quarter. Simplex Trading LLC now owns 9,991 shares of the company’s stock valued at $943,000 after acquiring an additional 7,033 shares in the last quarter. Finally, TrueMark Investments LLC purchased a new position in ProShares UltraPro Dow30 during the 2nd quarter valued at $1,375,000.

About ProShares UltraPro Dow30

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.