ProShares Ultra Dow30 (NYSEARCA:DDM) Sees Large Decrease in Short Interest

ProShares Ultra Dow30 (NYSEARCA:DDM) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 38,261 shares, a decrease of 53.8% from the June 15th total of 82,767 shares. Based on an average daily trading volume, of 158,254 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.5% of the company’s stock are sold short.

ProShares Ultra Dow30 Stock Down 0.4%

Shares of DDM stock traded down $0.26 on Thursday, hitting $65.99. The stock had a trading volume of 88,782 shares, compared to its average volume of 304,489. The business has a 50 day moving average price of $63.06 and a 200 day moving average price of $59.33. The company has a market cap of $544.42 million, a PE ratio of 20.98 and a beta of 1.73. ProShares Ultra Dow30 has a one year low of $47.15 and a one year high of $68.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DDM. Global View Capital Management LLC boosted its stake in shares of ProShares Ultra Dow30 by 271.1% during the fourth quarter. Global View Capital Management LLC now owns 566,105 shares of the company’s stock valued at $32,189,000 after purchasing an additional 413,552 shares in the last quarter. HRT Financial LP purchased a new position in ProShares Ultra Dow30 during the fourth quarter valued at approximately $8,335,000. Focus Partners Wealth bought a new position in ProShares Ultra Dow30 in the fourth quarter worth approximately $5,481,000. GenWealth Group Inc. raised its stake in ProShares Ultra Dow30 by 105.8% in the fourth quarter. GenWealth Group Inc. now owns 159,954 shares of the company’s stock worth $9,620,000 after buying an additional 82,230 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in ProShares Ultra Dow30 by 10,339.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 38,834 shares of the company’s stock worth $2,208,000 after buying an additional 38,462 shares in the last quarter.

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.