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

ProShares Ultra Technology (NYSEARCA:ROM)’s share price were down 4.8% 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 daily volume of 57,146 shares. The stock had previously closed at $151.80.

ProShares Ultra Technology Price Performance

The stock has a 50-day moving average price of $142.46 and a 200-day moving average price of $118.44. The firm has a market capitalization of $1.26 billion, a PE ratio of 38.02 and a beta of 2.73.

Institutional Investors Weigh In On ProShares Ultra Technology

Several hedge funds and other institutional investors have recently bought and sold shares of ROM. WealthCare Asset Management LLC purchased a new stake in ProShares Ultra Technology during the 4th quarter worth approximately $2,978,000. Kestra Advisory Services LLC boosted its stake in shares of ProShares Ultra Technology by 3.9% during the 4th quarter. Kestra Advisory Services LLC now owns 18,156 shares of the company’s stock valued at $1,712,000 after buying an additional 686 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of ProShares Ultra Technology during the second quarter worth approximately $1,032,000. Osaic Holdings Inc. grew its position in shares of ProShares Ultra Technology by 48.0% during the fourth quarter. Osaic Holdings Inc. now owns 10,837 shares of the company’s stock worth $1,022,000 after buying an additional 3,517 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of ProShares Ultra Technology by 45.3% in the fourth quarter. HighTower Advisors LLC now owns 8,623 shares of the company’s stock worth $813,000 after buying an additional 2,690 shares during the last quarter.

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.