ProShares Ultra Dow30 (NYSEARCA:DDM) Shares Down 2.3% – Here’s Why

ProShares Ultra Dow30 (NYSEARCA:DDM)’s stock price were down 2.3% during mid-day trading on Wednesday . The stock traded as low as $62.19 and last traded at $62.91. 360,701 shares were traded during trading, an increase of 29% from the average daily volume of 279,277 shares. The stock had previously closed at $64.40.

ProShares Ultra Dow30 Stock Down 2.3%

The stock has a market cap of $503.91 million, a P/E ratio of 20.98 and a beta of 1.73. The business has a 50 day moving average price of $66.70 and a 200 day moving average price of $61.67.

Hedge Funds Weigh In On ProShares Ultra Dow30

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased 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 purchasing an additional 38,462 shares during the period. Koshinski Asset Management Inc. boosted its stake in shares of ProShares Ultra Dow30 by 3.2% during the first quarter. Koshinski Asset Management Inc. now owns 27,599 shares of the company’s stock valued at $1,437,000 after purchasing an additional 856 shares during the period. Beaton Management Co. Inc. grew its holdings in shares of ProShares Ultra Dow30 by 96.5% in the fourth quarter. Beaton Management Co. Inc. now owns 16,800 shares of the company’s stock worth $955,000 after purchasing an additional 8,250 shares during the last quarter. Plotkin Financial Advisors LLC grew its holdings in shares of ProShares Ultra Dow30 by 99.3% in the fourth quarter. Plotkin Financial Advisors LLC now owns 14,502 shares of the company’s stock worth $825,000 after purchasing an additional 7,225 shares during the last quarter. Finally, Schwallier Wealth Management LLC purchased a new position in ProShares Ultra Dow30 in the 1st quarter worth about $407,000.

ProShares Ultra Dow30 Company Profile

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.