ProShares Ultra Technology (NYSEARCA:ROM) Sees Significant Increase in Short Interest

ProShares Ultra Technology (NYSEARCA:ROM) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 54,938 shares, an increase of 134.3% from the May 14th total of 23,448 shares. Based on an average daily volume of 69,785 shares, the short-interest ratio is currently 0.8 days. Approximately 0.6% of the shares of the company are short sold.

ProShares Ultra Technology Stock Performance

Shares of NYSEARCA:ROM traded up $2.43 during trading hours on Friday, hitting $146.87. The stock had a trading volume of 75,920 shares, compared to its average volume of 55,757. The stock’s fifty day simple moving average is $124.64 and its 200 day simple moving average is $102.97. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 38.02 and a beta of 2.72. ProShares Ultra Technology has a 1-year low of $67.59 and a 1-year high of $171.82.

Institutional Investors Weigh In On ProShares Ultra Technology

A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its holdings in shares of ProShares Ultra Technology by 9.8% during the first quarter. Bank of America Corp DE now owns 7,250 shares of the company’s stock valued at $568,000 after buying an additional 650 shares during the last quarter. Clearwater Capital Advisors LLC acquired a new position in ProShares Ultra Technology in the 1st quarter worth approximately $316,000. Cassaday & Co Wealth Management LLC acquired a new position in ProShares Ultra Technology in the 1st quarter worth approximately $110,000. Integrated Advisors Network LLC purchased a new position in ProShares Ultra Technology during the 4th quarter worth approximately $381,000. Finally, Osaic Holdings Inc. raised its stake in ProShares Ultra Technology by 48.0% during the 4th quarter. Osaic Holdings Inc. now owns 10,837 shares of the company’s stock valued at $1,022,000 after purchasing an additional 3,517 shares during the period.

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.