ProShares Ultra Technology (NYSEARCA:ROM) Stock Price Up 1.2% – Still a Buy?

ProShares Ultra Technology (NYSEARCA:ROM) shares were up 1.2% during mid-day trading on Monday . The stock traded as high as $97.11 and last traded at $96.20. Approximately 20,134 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 57,525 shares. The stock had previously closed at $95.10.

ProShares Ultra Technology Trading Up 1.2%

The company has a market capitalization of $874.46 million, a price-to-earnings ratio of 38.02 and a beta of 2.41. The stock’s 50 day moving average price is $96.00 and its 200 day moving average price is $86.58.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ROM. Northwestern Mutual Wealth Management Co. raised its stake in ProShares Ultra Technology by 24.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,695 shares of the company’s stock worth $528,000 after acquiring an additional 1,115 shares in the last quarter. Kanawha Capital Management LLC bought a new stake in ProShares Ultra Technology during the third quarter valued at $203,000. Independent Wealth Network Inc. acquired a new stake in shares of ProShares Ultra Technology during the 3rd quarter worth approximately $209,000. Osaic Holdings Inc. increased its position in ProShares Ultra Technology by 1,259.3% in 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 in the last quarter. Finally, Great Valley Advisor Group Inc. acquired a new position in ProShares Ultra Technology during the second quarter worth $262,000.

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.