ProShares Ultra Dow30 (NYSEARCA:DDM) Reaches New 1-Year High – Still a Buy?

ProShares Ultra Dow30 (NYSEARCA:DDM) reached a new 52-week high during trading on Monday . The company traded as high as $105.37 and last traded at $105.37, with a volume of 2893 shares. The stock had previously closed at $103.86.

ProShares Ultra Dow30 Stock Up 0.6 %

The firm has a fifty day moving average price of $97.57 and a two-hundred day moving average price of $90.12. The stock has a market capitalization of $521.75 million, a P/E ratio of 18.43 and a beta of 1.48.

Hedge Funds Weigh In On ProShares Ultra Dow30

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in ProShares Ultra Dow30 by 100.0% during the 3rd quarter. Barclays PLC now owns 600 shares of the company’s stock valued at $57,000 after acquiring an additional 300 shares during the period. WealthShield Partners LLC purchased a new position in shares of ProShares Ultra Dow30 during the second quarter valued at approximately $58,000. Sunbelt Securities Inc. raised its holdings in shares of ProShares Ultra Dow30 by 55.7% during the third quarter. Sunbelt Securities Inc. now owns 797 shares of the company’s stock valued at $76,000 after purchasing an additional 285 shares during the last quarter. Squarepoint Ops LLC bought a new position in ProShares Ultra Dow30 during the second quarter valued at approximately $219,000. Finally, Ground Swell Capital LLC purchased a new stake in ProShares Ultra Dow30 in the third quarter worth approximately $272,000.

About ProShares Ultra Dow30

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.