ProShares Ultra Technology (NYSEARCA:ROM – Get Free Report) shares dropped 6.2% during mid-day trading on Wednesday . The company traded as low as $64.40 and last traded at $64.56. Approximately 41,162 shares traded hands during trading, a decline of 38% from the average daily volume of 66,769 shares. The stock had previously closed at $68.86.
ProShares Ultra Technology Price Performance
The company has a fifty day simple moving average of $68.21 and a two-hundred day simple moving average of $61.51.
Institutional Investors Weigh In On ProShares Ultra Technology
A number of hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its stake in shares of ProShares Ultra Technology by 602.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 49,735 shares of the company’s stock worth $3,473,000 after purchasing an additional 42,654 shares during the last quarter. Tactive Advisors LLC lifted its stake in shares of ProShares Ultra Technology by 255.7% during the 1st quarter. Tactive Advisors LLC now owns 19,757 shares of the company’s stock worth $1,200,000 after purchasing an additional 14,202 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of ProShares Ultra Technology during the 1st quarter worth $70,000. Livelsberger Financial Advisory acquired a new position in ProShares Ultra Technology during the 4th quarter valued at about $58,000. Finally, Clarity Capital Partners LLC acquired a new position in ProShares Ultra Technology during the 4th quarter valued at about $2,718,000.
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.
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