ProShares Ultra Technology (NYSEARCA:ROM) Reaches New 52-Week High – Still a Buy?

ProShares Ultra Technology (NYSEARCA:ROM) hit a new 52-week high during trading on Friday . The stock traded as high as $142.00 and last traded at $142.0850, with a volume of 1914 shares changing hands. The stock had previously closed at $139.54.

ProShares Ultra Technology Stock Performance

The firm has a market cap of $1.23 billion, a P/E ratio of 38.02 and a beta of 2.63. The company has a 50 day moving average of $102.68 and a 200 day moving average of $96.67.

Institutional Investors Weigh In On ProShares Ultra Technology

Large investors have recently made changes to their positions in the company. Group One Trading LLC bought a new stake in shares of ProShares Ultra Technology in the 4th quarter valued at approximately $26,000. Royal Bank of Canada grew its stake in shares of ProShares Ultra Technology by 132.4% in the 4th quarter. Royal Bank of Canada now owns 711 shares of the company’s stock valued at $67,000 after buying an additional 405 shares in the last quarter. Aventura Private Wealth LLC bought a new stake in ProShares Ultra Technology during the fourth quarter worth approximately $75,000. Cassaday & Co Wealth Management LLC bought a new stake in ProShares Ultra Technology during the first quarter worth approximately $110,000. Finally, Kanawha Capital Management LLC bought a new stake in ProShares Ultra Technology during the third quarter worth approximately $203,000.

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.