ProShares UltraShort Technology (NYSEARCA:REW) Share Price Pass Below Fifty Day Moving Average – What’s Next?

ProShares UltraShort Technology (NYSEARCA:REW) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.38 and traded as low as $11.42. ProShares UltraShort Technology shares last traded at $11.56, with a volume of 9,222 shares trading hands.

ProShares UltraShort Technology Price Performance

The stock has a 50-day moving average of $12.37 and a two-hundred day moving average of $17.33.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. bought a new stake in shares of ProShares UltraShort Technology (NYSEARCA:REW) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned 2.34% of ProShares UltraShort Technology as of its most recent SEC filing.

About ProShares UltraShort Technology

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.