ProShares Ultra Technology (NYSEARCA:ROM) Sees Large Growth in Short Interest

ProShares Ultra Technology (NYSEARCA:ROM) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 14,791 shares, an increase of 54.1% from the December 15th total of 9,600 shares. Based on an average trading volume of 25,035 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the company’s stock are sold short. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 25,035 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of ProShares Ultra Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in ROM. Aventura Private Wealth LLC acquired a new stake in shares of ProShares Ultra Technology during the 4th quarter worth approximately $75,000. PNC Financial Services Group Inc. grew its stake in ProShares Ultra Technology by 53.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the company’s stock worth $76,000 after buying an additional 350 shares during the last quarter. Kanawha Capital Management LLC acquired a new stake in ProShares Ultra Technology in the third quarter worth $203,000. Independent Wealth Network Inc. bought a new stake in ProShares Ultra Technology in the third quarter valued at $209,000. Finally, Lido Advisors LLC acquired a new position in shares of ProShares Ultra Technology during the second quarter valued at $225,000.

ProShares Ultra Technology Trading Up 0.1%

NYSEARCA ROM traded up $0.13 during mid-day trading on Friday, reaching $96.19. 16,937 shares of the company’s stock traded hands, compared to its average volume of 36,312. ProShares Ultra Technology has a 1-year low of $36.68 and a 1-year high of $108.12. The company has a fifty day simple moving average of $95.06 and a 200-day simple moving average of $89.62. The company has a market cap of $866.67 million, a price-to-earnings ratio of 38.02 and a beta of 2.41.

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.