ProShares Ultra Technology (NYSEARCA:ROM) Shares Down 4.8% – What’s Next?

ProShares Ultra Technology (NYSEARCA:ROM) shares traded down 4.8% during trading on Tuesday . The stock traded as low as $143.10 and last traded at $144.49. Approximately 72,267 shares changed hands during trading, an increase of 26% from the average session volume of 57,146 shares. The stock had previously closed at $151.80.

ProShares Ultra Technology Stock Performance

The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 38.02 and a beta of 2.73. The business has a 50 day moving average price of $142.60 and a 200-day moving average price of $118.75.

Institutional Trading of ProShares Ultra Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WealthCare Asset Management LLC bought a new stake in shares of ProShares Ultra Technology in the fourth quarter valued at approximately $2,978,000. Quantinno Capital Management LP purchased a new stake in shares of ProShares Ultra Technology during the 2nd quarter valued at approximately $1,032,000. Osaic Holdings Inc. boosted its holdings in ProShares Ultra Technology by 1,259.3% in the 2nd quarter. Osaic Holdings Inc. now owns 10,331 shares of the company’s stock worth $786,000 after buying an additional 9,571 shares during the period. Sequoia Financial Advisors LLC bought a new position in ProShares Ultra Technology in the 4th quarter worth approximately $604,000. Finally, Cerity Partners LLC purchased a new position in ProShares Ultra Technology in the 2nd quarter valued at approximately $487,000.

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.