ProShares UltraPro Dow30 (NYSEARCA:UDOW) Trading Up 15.8% Following Dividend Announcement

ProShares UltraPro Dow30 (NYSEARCA:UDOW)’s share price were up 15.8% during trading on Wednesday following a dividend announcement from the company. The stock traded as high as $36.13 and last traded at $41.52, approximately 647,363 shares traded hands during mid-day trading. A decline of 75% from the average daily volume of 2,572,723 shares. The stock had previously closed at $35.86.

The newly announced dividend which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 26th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Wednesday, March 25th.

The business has a 50-day moving average price of $92.68 and a 200 day moving average price of $109.63.

Hedge funds and other institutional investors have recently bought and sold shares of the company. AE Wealth Management LLC lifted its position in ProShares UltraPro Dow30 by 11.5% in the fourth quarter. AE Wealth Management LLC now owns 3,094 shares of the company’s stock worth $384,000 after buying an additional 319 shares during the last quarter. UBS Group AG lifted its position in ProShares UltraPro Dow30 by 18.4% in the fourth quarter. UBS Group AG now owns 4,052 shares of the company’s stock worth $503,000 after buying an additional 631 shares during the last quarter. Patriot Investment Management Inc. bought a new stake in ProShares UltraPro Dow30 in the fourth quarter worth $248,000. Envestnet Asset Management Inc. bought a new stake in ProShares UltraPro Dow30 in the fourth quarter worth $468,000. Finally, Simplex Trading LLC lifted its position in ProShares UltraPro Dow30 by 71.8% in the fourth quarter. Simplex Trading LLC now owns 14,683 shares of the company’s stock worth $1,822,000 after buying an additional 6,135 shares during the last quarter.

About ProShares UltraPro Dow30 (NYSEARCA:UDOW)

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.

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