ProShares UltraPro Dow30 (NYSEARCA:UDOW) rose 5.2% during mid-day trading on Tuesday . The stock traded as high as $89.67 and last traded at $89.43. Approximately 1,007,276 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 1,189,007 shares. The stock had previously closed at $84.99.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 3rd. Investors of record on Thursday, September 27th were issued a dividend of $0.0688 per share. The ex-dividend date of this dividend was Wednesday, September 26th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.31%.
Hedge funds have recently bought and sold shares of the business. Kovack Advisors Inc. bought a new position in ProShares UltraPro Dow30 in the third quarter valued at approximately $202,000. Atria Investments LLC bought a new position in ProShares UltraPro Dow30 in the third quarter valued at approximately $289,000. SG Americas Securities LLC bought a new position in ProShares UltraPro Dow30 in the second quarter valued at approximately $169,000. Finally, AE Wealth Management LLC bought a new position in ProShares UltraPro Dow30 in the second quarter valued at approximately $258,000.
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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