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

ProShares UltraPro Dow30 (NYSEARCA:UDOW) shares were up 15.8% during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $36.13 and last traded at $41.52, approximately 647,363 shares were traded during 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 paid a $0.08 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $0.32 annualized dividend and a yield of 0.70%.

The firm has a 50 day simple moving average of $92.68 and a 200-day simple moving average of $109.63.

A number of institutional investors and hedge funds have recently bought and sold shares of UDOW. Virtu Financial LLC purchased a new position in ProShares UltraPro Dow30 in the third quarter valued at about $1,973,000. Renaissance Technologies LLC acquired a new stake in ProShares UltraPro Dow30 in the fourth quarter worth about $1,601,000. IMC Chicago LLC boosted its holdings in ProShares UltraPro Dow30 by 97.8% in the fourth quarter. IMC Chicago LLC now owns 22,634 shares of the company’s stock worth $2,809,000 after acquiring an additional 11,192 shares in the last quarter. Simplex Trading LLC boosted its holdings 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 acquiring an additional 6,135 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in ProShares UltraPro Dow30 in the fourth quarter worth about $468,000.

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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