ProShares Ultra Technology (NYSEARCA:ROM) Stock Price Up 1.2% – Here’s Why

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

ProShares Ultra Technology Stock Up 0.5%

The firm’s fifty day moving average price is $96.19 and its 200 day moving average price is $86.87. The stock has a market cap of $888.00 million, a PE ratio of 38.02 and a beta of 2.41.

Institutional Investors Weigh In On ProShares Ultra Technology

Hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted 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 valued at $528,000 after buying an additional 1,115 shares during the last quarter. Kanawha Capital Management LLC purchased a new stake in shares of ProShares Ultra Technology during the 3rd quarter worth approximately $203,000. Independent Wealth Network Inc. purchased a new stake in shares of ProShares Ultra Technology during the 3rd quarter worth approximately $209,000. Osaic Holdings Inc. boosted its position 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 acquiring an additional 9,571 shares during the last quarter. Finally, Great Valley Advisor Group Inc. purchased a new position in shares of ProShares Ultra Technology in the 2nd quarter worth $262,000.

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.