ProShares Ultra Dow30 (NYSEARCA:DDM) Sees Significant Increase in Short Interest

by · The Markets Daily

ProShares Ultra Dow30 (NYSEARCA:DDM – Get Free Report) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 270,302 shares, a growth of 543.7% from the December 31st total of 41,991 shares. Based on an average daily volume of 609,749 shares, the days-to-cover ratio is currently 0.4 days. Approximately 2.9% of the shares of the company are sold short. Approximately 2.9% of the shares of the company are sold short. Based on an average daily volume of 609,749 shares, the days-to-cover ratio is currently 0.4 days.

ProShares Ultra Dow30 Stock Performance

Shares of DDM remained flat at $58.82 during midday trading on Wednesday. The stock had a trading volume of 228,956 shares, compared to its average volume of 575,334. The firm has a fifty day moving average of $57.64 and a 200 day moving average of $54.24. The stock has a market capitalization of $549.97 million, a P/E ratio of 20.98 and a beta of 1.84. ProShares Ultra Dow30 has a 12 month low of $34.54 and a 12 month high of $60.60.

Institutional Investors Weigh In On ProShares Ultra Dow30

A number of large investors have recently added to or reduced their stakes in the stock. Global View Capital Management LLC raised its holdings in ProShares Ultra Dow30 by 271.1% in the 4th quarter. Global View Capital Management LLC now owns 566,105 shares of the company’s stock valued at $32,189,000 after acquiring an additional 413,552 shares in the last quarter. GenWealth Group Inc. grew its holdings in shares of ProShares Ultra Dow30 by 105.8% during the 4th quarter. GenWealth Group Inc. now owns 159,954 shares of the company’s stock worth $9,620,000 after purchasing an additional 82,230 shares in the last quarter. Capital Investment Counsel Inc increased its position in shares of ProShares Ultra Dow30 by 100.0% in the fourth quarter. Capital Investment Counsel Inc now owns 66,050 shares of the company’s stock worth $3,756,000 after purchasing an additional 33,025 shares during the period. Tower Research Capital LLC TRC increased its position in shares of ProShares Ultra Dow30 by 32,044.8% in the second quarter. Tower Research Capital LLC TRC now owns 33,752 shares of the company’s stock worth $3,309,000 after purchasing an additional 33,647 shares during the period. Finally, CPR Investments Inc. raised its stake in ProShares Ultra Dow30 by 277.8% in the fourth quarter. CPR Investments Inc. now owns 15,586 shares of the company’s stock valued at $886,000 after purchasing an additional 11,460 shares in the last quarter.

About ProShares Ultra Dow30

(Get Free Report)

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.

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