ProShares Ultra Technology (NYSEARCA:ROM) Shares Gap Down – Should You Sell?

by · The Markets Daily

ProShares Ultra Technology (NYSEARCA:ROM – Get Free Report)’s share price gapped down before the market opened on Thursday. The stock had previously closed at $159.59, but opened at $143.96. ProShares Ultra Technology shares last traded at $143.41, with a volume of 10,105 shares.

ProShares Ultra Technology Stock Down 2.8%

The company has a fifty day simple moving average of $150.54 and a two-hundred day simple moving average of $136.82. The stock has a market capitalization of $1.27 billion, a P/E ratio of 38.02 and a beta of 2.72.

Hedge Funds Weigh In On ProShares Ultra Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Client First Investment Management LLC acquired a new position in shares of ProShares Ultra Technology in the 3rd quarter valued at approximately $4,852,000. Tucker Asset Management LLC acquired a new stake in ProShares Ultra Technology during the 2nd quarter worth approximately $41,000. Wealthcare Advisory Partners LLC acquired a new stake in ProShares Ultra Technology during the 2nd quarter worth approximately $244,000. Valeo Financial Advisors LLC acquired a new stake in ProShares Ultra Technology during the 2nd quarter worth approximately $240,000. Finally, Bank of America Corp DE lifted its stake in ProShares Ultra Technology by 9.8% in the first quarter. Bank of America Corp DE now owns 7,250 shares of the company’s stock valued at $568,000 after buying an additional 650 shares in the last quarter.

About ProShares Ultra Technology

(Get Free Report)

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.

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