ProShares Ultra Dow30 (NYSEARCA:DDM) Stock Price Cross Above 50 Day Moving Average – Should You Sell?

ProShares Ultra Dow30 (NYSEARCA:DDM)’s stock price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty 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 changing hands.

ProShares Ultra Dow30 Price Performance

The company has a market cap of $503.60 million, a PE ratio of 20.98 and a beta of 1.74. The stock has a fifty day moving average price of $64.50 and a 200-day moving average price of $61.60.

Institutional Investors Weigh In On ProShares Ultra Dow30

Hedge funds have recently bought and sold shares of the business. IFP Advisors Inc increased its holdings in shares of ProShares Ultra Dow30 by 304.0% in 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 during the period. Bogart Wealth LLC purchased a new stake in shares of ProShares Ultra Dow30 in the first quarter worth approximately $37,000. Koshinski Asset Management Inc. lifted its position in shares of ProShares Ultra Dow30 by 3.2% in the first quarter. Koshinski Asset Management Inc. now owns 27,599 shares of the company’s stock worth $1,437,000 after purchasing an additional 856 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of ProShares Ultra Dow30 during the third quarter worth approximately $86,000. Finally, IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Dow30 during the first quarter worth approximately $243,000.

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.