ProShares Ultra Technology (NYSEARCA:ROM) Stock Price Down 5.4% – What’s Next?

Shares of ProShares Ultra Technology (NYSEARCA:ROM) fell 5.4% on Thursday . The company traded as low as $58.02 and last traded at $58.51. 63,581 shares traded hands during trading, an increase of 24% from the average session volume of 51,311 shares. The stock had previously closed at $61.88.

ProShares Ultra Technology Trading Up 2.7 %

The stock’s 50 day moving average is $68.88 and its 200-day moving average is $68.52. The company has a market cap of $616.92 million, a P/E ratio of 38.17 and a beta of 2.32.

Hedge Funds Weigh In On ProShares Ultra Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc lifted its holdings in shares of ProShares Ultra Technology by 20.0% during the 4th quarter. IFP Advisors Inc now owns 900 shares of the company’s stock valued at $63,000 after buying an additional 150 shares during the period. Larson Financial Group LLC bought a new position in ProShares Ultra Technology in the third quarter valued at about $27,000. Truvestments Capital LLC purchased a new position in ProShares Ultra Technology in the third quarter worth about $41,000. PNC Financial Services Group Inc. bought a new stake in shares of ProShares Ultra Technology during the 4th quarter valued at about $45,000. Finally, Lido Advisors LLC bought a new stake in shares of ProShares Ultra Technology during the 4th quarter valued at about $206,000.

About ProShares Ultra Technology

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.