ProShares UltraPro Dow30 (NYSEARCA:UDOW) Sets New 1-Year High – Here’s What Happened
by Mitch Edgeman · The Markets DailyProShares UltraPro Dow30 (NYSEARCA:UDOW – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $61.51 and last traded at $61.4260, with a volume of 4890679 shares changing hands. The stock had previously closed at $58.95.
ProShares UltraPro Dow30 Price Performance
The firm has a 50-day moving average of $57.27 and a 200 day moving average of $52.83. The stock has a market capitalization of $774.05 million, a price-to-earnings ratio of 20.47 and a beta of 2.79.
Hedge Funds Weigh In On ProShares UltraPro Dow30
Hedge funds and other institutional investors have recently made changes to their positions in the company. Innova Wealth Partners raised its position in ProShares UltraPro Dow30 by 101.3% during the fourth quarter. Innova Wealth Partners now owns 10,546 shares of the company’s stock worth $611,000 after acquiring an additional 5,308 shares in the last quarter. Canal Capital Management LLC grew its position in shares of ProShares UltraPro Dow30 by 100.5% in the 4th quarter. Canal Capital Management LLC now owns 18,125 shares of the company’s stock valued at $1,050,000 after acquiring an additional 9,085 shares during the period. JPMorgan Chase & Co. increased its stake in shares of ProShares UltraPro Dow30 by 46.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,275 shares of the company’s stock worth $244,000 after purchasing an additional 718 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of ProShares UltraPro Dow30 in the 3rd quarter valued at about $249,000. Finally, Quadrature Capital Ltd bought a new stake in shares of ProShares UltraPro Dow30 in the 3rd quarter valued at about $3,456,000.
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. The Index includes 30 large-cap, blue-chip United States stocks, excluding utility and transportation companies. The Fund invests in common stock issued by public companies.