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

ProShares Ultra Technology (NYSEARCA:ROM) shares gapped down before the market opened on Thursday . The stock had previously closed at $143.25, but opened at $136.14. ProShares Ultra Technology shares last traded at $135.2770, with a volume of 1,699 shares traded.

ProShares Ultra Technology Price Performance

The company has a market cap of $1.16 billion, a P/E ratio of 38.02 and a beta of 2.71. The stock has a 50-day moving average of $145.41 and a 200 day moving average of $111.26.

Institutional Investors Weigh In On ProShares Ultra Technology

A number of large investors have recently bought and sold shares of ROM. Wealthcare Advisory Partners LLC acquired a new position in shares of ProShares Ultra Technology in the 2nd quarter valued at approximately $244,000. Valeo Financial Advisors LLC acquired a new stake in shares of ProShares Ultra Technology during the 2nd quarter worth approximately $240,000. Bank of America Corp DE boosted its position in shares of ProShares Ultra Technology by 9.8% during the 1st quarter. Bank of America Corp DE now owns 7,250 shares of the company’s stock worth $568,000 after acquiring an additional 650 shares in the last quarter. Clearwater Capital Advisors LLC bought a new position in ProShares Ultra Technology in the first quarter valued at approximately $316,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in ProShares Ultra Technology in the first quarter valued at approximately $110,000.

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.