ProShares UltraPro Dow30 (NYSEARCA:UDOW) Share Price Pass Below Fifty Day Moving Average – Time to Sell?

ProShares UltraPro Dow30 (NYSEARCA:UDOW)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $101.19 and traded as low as $90.07. ProShares UltraPro Dow30 shares last traded at $94.13, with a volume of 3,489,330 shares.

ProShares UltraPro Dow30 Stock Up 1.5 %

The stock has a market capitalization of $668.32 million, a price-to-earnings ratio of 22.85 and a beta of 2.94. The business’s 50 day simple moving average is $101.11 and its 200-day simple moving average is $99.18.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management lifted its position in shares of ProShares UltraPro Dow30 by 136.0% during the 3rd quarter. Hollencrest Capital Management now owns 295 shares of the company’s stock valued at $28,000 after acquiring an additional 170 shares during the period. EverSource Wealth Advisors LLC bought a new stake in ProShares UltraPro Dow30 during the 4th quarter valued at $60,000. O Shaughnessy Asset Management LLC bought a new stake in ProShares UltraPro Dow30 during the 4th quarter valued at $74,000. Farther Finance Advisors LLC increased its stake in ProShares UltraPro Dow30 by 216.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 950 shares of the company’s stock valued at $91,000 after purchasing an additional 650 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in ProShares UltraPro Dow30 during the 4th quarter valued at $94,000.

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.