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UDOW · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is ProShares UltraPro Dow 30 (UDOW) stock moving?
No news items or SEC filings were found for UDOW in the review window, so this view rests only on the 30-day price and volume data. UDOW is a 3x daily-leveraged fund on the Dow 30, so its moves run roughly three times the index's daily moves. The close fell from 69.87 on Oct 22 to 66.49 on Nov 10, about 4.8% lower. The period was volatile: the fund rose 9.2% to 71.42 on Nov 4 on 3.76M shares, then fell 10.5% to 63.91 on Nov 5 on 4.52M shares, the highest volume in the window, and closed at 63.04 on Nov 6. It rebounded 6.5% to 67.13 on Nov 9 on 2.17M shares, then slipped 1.0% to 66.49 on Nov 10 on a lighter 1.23M shares. The sharp reversal after the Nov 4 spike and the heavy-volume sell-off point to unsettled sentiment, and the latest session's lighter volume suggests less conviction. With no news to explain the moves, the direction over the next few weeks is unclear, and daily leverage decay adds risk for holders over longer periods.
About ProShares UltraPro Dow 30
ProShares UltraPro Dow30 is a leveraged ETF, launched in February 2010, that aims to deliver three times the daily return of the Dow Jones Industrial Average (before fees). The Dow is price-weighted and tracks 30 large US blue-chip companies. The fund resets its exposure every day, so it is built for short-term trading rather than long-term holding.
How the fund works
The fund gets about 3x daily exposure to the Dow mainly through total-return swaps with large banks (such as Citibank, Societe Generale, Bank of America and UBS), plus Dow mini futures and some direct stock holdings. Because it rebalances every day, its returns over weeks or months can differ a lot from 3x the index's return, especially when markets are choppy. It also carries counterparty risk from the swaps and an expense ratio of roughly 0.95%. Net assets are roughly $0.8 billion.
What usually moves UDOW
- Daily moves in the Dow Jones Industrial Average
- Market volatility and the drag from daily resets
- High-priced Dow stocks like Goldman Sachs and Caterpillar, which weigh most in a price-weighted index
- Interest rates and the cost of financing leverage
- Broad risk appetite and economic news