ProShares Ultra Dow30 (NYSEARCA:DDM) Reaches New 52-Week High – Still a Buy?

Shares of ProShares Ultra Dow30 (NYSEARCA:DDM) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $107.60 and last traded at $107.31, with a volume of 285602 shares traded. The stock had previously closed at $105.91.

ProShares Ultra Dow30 Price Performance

The firm has a market cap of $516.75 million, a P/E ratio of 18.43 and a beta of 1.48. The company’s 50-day moving average is $99.24 and its two-hundred day moving average is $91.04.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Barclays PLC boosted its position in shares of ProShares Ultra Dow30 by 100.0% in the third quarter. Barclays PLC now owns 600 shares of the company’s stock valued at $57,000 after acquiring an additional 300 shares during the period. WealthShield Partners LLC bought a new position in shares of ProShares Ultra Dow30 during the second quarter valued at about $58,000. Sunbelt Securities Inc. grew its position in shares of ProShares Ultra Dow30 by 55.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 797 shares of the company’s stock worth $76,000 after buying an additional 285 shares during the last quarter. Squarepoint Ops LLC purchased a new position in ProShares Ultra Dow30 during the 2nd quarter valued at $219,000. Finally, Ground Swell Capital LLC bought a new position in ProShares Ultra Dow30 in the third quarter worth about $272,000.

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.