ProShares Ultra Technology (NYSEARCA:ROM) Reaches New 1-Year High – What’s Next?

ProShares Ultra Technology (NYSEARCA:ROM)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $137.59 and last traded at $136.3720, with a volume of 7186 shares traded. The stock had previously closed at $135.07.

ProShares Ultra Technology Stock Down 3.0%

The firm has a fifty day simple moving average of $95.71 and a 200-day simple moving average of $95.03. The company has a market capitalization of $1.16 billion, a P/E ratio of 38.02 and a beta of 2.63.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ROM. WealthCare Asset Management LLC bought a new position in shares of ProShares Ultra Technology during the fourth quarter worth about $2,978,000. Quantinno Capital Management LP bought a new position in shares of ProShares Ultra Technology during the second quarter worth about $1,032,000. Osaic Holdings Inc. grew its holdings in shares of ProShares Ultra Technology by 1,259.3% during the second quarter. Osaic Holdings Inc. now owns 10,331 shares of the company’s stock worth $786,000 after buying an additional 9,571 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of ProShares Ultra Technology during the fourth quarter worth about $604,000. Finally, Cerity Partners LLC acquired a new position in ProShares Ultra Technology during the second quarter valued at approximately $487,000.

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. 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.