ProShares UltraPro Dow30 (NYSEARCA:UDOW) Reaches New 1-Year High – Time to Buy?

ProShares UltraPro Dow30 (NYSEARCA:UDOW)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $103.10 and last traded at $102.92, with a volume of 751101 shares trading hands. The stock had previously closed at $94.21.

ProShares UltraPro Dow30 Stock Up 1.8 %

The firm’s 50 day moving average is $94.43 and its 200-day moving average is $85.62.

Hedge Funds Weigh In On ProShares UltraPro Dow30

Hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management lifted its holdings in ProShares UltraPro Dow30 by 136.0% during the third quarter. Hollencrest Capital Management now owns 295 shares of the company’s stock valued at $28,000 after purchasing an additional 170 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of ProShares UltraPro Dow30 by 216.7% during the third quarter. Farther Finance Advisors LLC now owns 950 shares of the company’s stock worth $91,000 after buying an additional 650 shares in the last quarter. Smith Chas P & Associates PA Cpas acquired a new stake in shares of ProShares UltraPro Dow30 in the third quarter valued at about $240,000. Koshinski Asset Management Inc. purchased a new position in shares of ProShares UltraPro Dow30 in the third quarter worth about $1,043,000. Finally, Squarepoint Ops LLC boosted its position in ProShares UltraPro Dow30 by 132.4% during the second quarter. Squarepoint Ops LLC now owns 61,363 shares of the company’s stock worth $4,823,000 after acquiring an additional 34,960 shares during the last quarter.

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.