ProShares Ultra Technology (NYSEARCA:ROM) Short Interest Down 20.1% in March

ProShares Ultra Technology (NYSEARCA:ROM) was the recipient of a large decline in short interest in March. As of March 13th, there was short interest totaling 12,732 shares, a decline of 20.1% from the February 26th total of 15,942 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 37,814 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On ProShares Ultra Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. WealthCare Asset Management LLC acquired a new stake in ProShares Ultra Technology during the fourth quarter valued at $2,978,000. Quadrature Capital Ltd purchased a new stake in shares of ProShares Ultra Technology during the 2nd quarter worth about $1,574,000. Quantinno Capital Management LP acquired a new stake in shares of ProShares Ultra Technology during the 2nd quarter valued at about $1,032,000. Osaic Holdings Inc. lifted its holdings in shares of ProShares Ultra Technology by 1,259.3% during the 2nd quarter. Osaic Holdings Inc. now owns 10,331 shares of the company’s stock valued at $786,000 after buying an additional 9,571 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of ProShares Ultra Technology in the 4th quarter valued at approximately $604,000.

ProShares Ultra Technology Stock Performance

Shares of NYSEARCA:ROM traded up $6.05 during trading hours on Tuesday, hitting $78.40. 98,424 shares of the company’s stock traded hands, compared to its average volume of 40,674. The company’s fifty day simple moving average is $87.79 and its two-hundred day simple moving average is $92.57. The company has a market cap of $700.11 million, a price-to-earnings ratio of 38.02 and a beta of 2.41. ProShares Ultra Technology has a 52 week low of $36.68 and a 52 week high of $108.12.

ProShares Ultra Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be issued a $0.0228 dividend. The ex-dividend date is Wednesday, March 25th. This is a positive change from ProShares Ultra Technology’s previous quarterly dividend of $0.02. This represents a $0.09 annualized dividend and a dividend yield of 0.1%.

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.