ProShares Ultra Dow30 (NYSEARCA:DDM) Shares Shorted: Short Interest Up 1,187.5% in October

ProShares Ultra Dow30 (NYSEARCA:DDM) was the target of a large growth in short interest in October. As of October 30th, there was short interest totaling 88,191 shares, a growth of 1,187.5% from the October 15th total of 6,850 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 175,158 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc lifted its position in ProShares Ultra Dow30 by 304.0% during the second 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 last quarter. Simplex Trading LLC purchased a new stake in shares of ProShares Ultra Dow30 during the 3rd quarter valued at about $45,000. Farther Finance Advisors LLC bought a new position in shares of ProShares Ultra Dow30 in the 3rd quarter valued at about $86,000. Bogart Wealth LLC bought a new position in shares of ProShares Ultra Dow30 in the 3rd quarter valued at about $184,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of ProShares Ultra Dow30 in the 3rd quarter valued at about $271,000.

ProShares Ultra Dow30 Stock Performance

NYSEARCA:DDM traded down $0.47 during trading hours on Thursday, reaching $63.99. The stock had a trading volume of 117,165 shares, compared to its average volume of 274,615. ProShares Ultra Dow30 has a 52 week low of $49.26 and a 52 week high of $71.25. The company has a 50 day moving average price of $63.87 and a two-hundred day moving average price of $61.78. The stock has a market capitalization of $515.12 million, a PE ratio of 20.98 and a beta of 1.73.

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.