Apologies in advance if this is a noob question, but can someone explain to me why DDM is only up .16% and the Dow up 224 points?
No one knows? This is what Proshares says about the fund: "Ultra Dow30 ProShares seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the Dow Jones Industrial AverageSM." Yet this morning, DDM is @ 51.63, up .27% and the dow is up 2.1%
Frankly, that -777 close made no sense to me, it was -590ish at 4:00pm, and YM never reached the same lows DJIA did afterhours. Usually YM has a 10 point premium on DJIA, but the low for YM was 10400 while it was 10260 for DJIA.
Noticing it as well, I trade DDM alot and from what I can tell is that the last minutes of trading the dow dropped extremely hard, the closing prices on the proshares occurs at approx 4:15pm, the NAV on DDM yesterday was approx $49.50, so basically the ETF is up around $2.00 from its closing NAV however I still dont comprehend this either, I dont think at anytime yesterday this ETF could have been bought for $49 and change and sold today for $51+ Im going to give them a call and ask for some info related to this, aside from that look at DXD. DXD down 2.5% DDM up .56%
Yeah, UYG was dysfunctional this morning. They are useless if they only follow the index some of the time.
http://finance.yahoo.com/echarts?s=DDM#chart2:symbol=ddm;range=5d;compare=^dji;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined