ProShares UltraPro Dow30 (NYSEARCA:UDOW) Shares Gap Down – Here’s Why

ProShares UltraPro Dow30 (NYSEARCA:UDOW) gapped down prior to trading on Thursday . The stock had previously closed at $71.11, but opened at $68.32. ProShares UltraPro Dow30 shares last traded at $68.50, with a volume of 1,294,552 shares trading hands.

ProShares UltraPro Dow30 Stock Down 1.9 %

The firm has a fifty day moving average of $89.17 and a 200-day moving average of $97.09. The stock has a market capitalization of $509.04 million, a price-to-earnings ratio of 20.78 and a beta of 2.76.

ProShares UltraPro Dow30 Increases Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were given a $0.3172 dividend. The ex-dividend date was Wednesday, March 26th. This is a positive change from ProShares UltraPro Dow30’s previous dividend of $0.31.

Institutional Trading of ProShares UltraPro Dow30

Several institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC acquired a new position in ProShares UltraPro Dow30 in the 4th quarter valued at about $60,000. O Shaughnessy Asset Management LLC acquired a new position in ProShares UltraPro Dow30 in the 4th quarter valued at $74,000. SBI Securities Co. Ltd. acquired a new stake in shares of ProShares UltraPro Dow30 during the fourth quarter worth $94,000. JPMorgan Chase & Co. acquired a new position in ProShares UltraPro Dow30 in the third quarter valued at $179,000. Finally, Independent Advisor Alliance purchased a new position in shares of ProShares UltraPro Dow30 during the 4th quarter worth about $228,000.

ProShares UltraPro Dow30 Company Profile

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.