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

ProShares Ultra Technology (NYSEARCA:ROM) gapped down before the market opened on Wednesday . The stock had previously closed at $158.64, but opened at $145.66. ProShares Ultra Technology shares last traded at $145.0210, with a volume of 3,830 shares traded.

ProShares Ultra Technology Price Performance

The business has a 50-day moving average of $136.12 and a two-hundred day moving average of $106.59. The company has a market cap of $1.25 billion, a P/E ratio of 38.02 and a beta of 2.72.

Institutional Trading of ProShares Ultra Technology

A number of institutional investors have recently modified their holdings of ROM. WealthCare Asset Management LLC bought a new position in shares of ProShares Ultra Technology during the 4th quarter worth approximately $2,978,000. Quantinno Capital Management LP acquired a new stake in ProShares Ultra Technology in the second quarter valued at approximately $1,032,000. Osaic Holdings Inc. grew its holdings in ProShares Ultra Technology by 1,259.3% in the second quarter. Osaic Holdings Inc. now owns 10,331 shares of the company’s stock worth $786,000 after purchasing an additional 9,571 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in ProShares Ultra Technology in the fourth quarter worth $604,000. Finally, Cerity Partners LLC acquired a new position in shares of ProShares Ultra Technology during the second quarter worth $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.