ProShares Ultra Technology (NYSEARCA:ROM) Shares Up 0.8% – Still a Buy?

Shares of ProShares Ultra Technology (NYSEARCA:ROM) were up 0.8% during trading on Monday . The stock traded as high as $98.50 and last traded at $97.84. Approximately 36,275 shares changed hands during trading, an increase of 11% from the average daily volume of 32,596 shares. The stock had previously closed at $97.03.

ProShares Ultra Technology Stock Performance

The stock’s fifty day simple moving average is $95.21 and its two-hundred day simple moving average is $89.38. The company has a market cap of $878.60 million, a price-to-earnings ratio of 38.02 and a beta of 2.41.

Institutional Investors Weigh In On ProShares Ultra Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of ProShares Ultra Technology in the 2nd quarter worth about $276,000. Tyche Wealth Partners LLC increased its position in ProShares Ultra Technology by 102.5% during the 2nd quarter. Tyche Wealth Partners LLC now owns 78,397 shares of the company’s stock worth $5,967,000 after purchasing an additional 39,675 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in ProShares Ultra Technology by 350.8% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 17,433 shares of the company’s stock worth $1,396,000 after purchasing an additional 13,566 shares in the last quarter. Freedom Investment Management Inc. raised its holdings in ProShares Ultra Technology by 66.0% in the second quarter. Freedom Investment Management Inc. now owns 11,503 shares of the company’s stock valued at $876,000 after buying an additional 4,575 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in ProShares Ultra Technology by 29.8% during the second quarter. Envestnet Asset Management Inc. now owns 51,002 shares of the company’s stock valued at $3,882,000 after buying an additional 11,721 shares in the last quarter.

ProShares Ultra Technology Company Profile

ProShares Ultra Technology (the Fund) seeks daily investment results that correspond to twice the daily performance of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology industry of the United States equity market. Component companies include those involved in computers and office equipment, software, communications technology, semiconductors, diversified technology services and Internet services. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as 200% of the daily return of the Index.