ProShares UltraShort Technology (NYSEARCA:REW) Stock Price Down 0.7% – Should You Sell?

ProShares UltraShort Technology (NYSEARCA:REW) shares traded down 0.7% during mid-day trading on Monday . The company traded as low as $11.14 and last traded at $11.41. Approximately 15,355 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 28,462 shares. The stock had previously closed at $11.49.

ProShares UltraShort Technology Trading Down 0.7%

The firm’s 50-day moving average is $14.71 and its 200-day moving average is $19.85.

Institutional Investors Weigh In On ProShares UltraShort Technology

An institutional investor recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. acquired a new stake in ProShares UltraShort Technology (NYSEARCA:REW) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned approximately 2.34% of ProShares UltraShort Technology as of its most recent SEC filing.

ProShares UltraShort Technology Company Profile

ProShares UltraShort Technology (the Fund) seeks daily investment results that correspond to twice the inverse 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.