ProShares Ultra Technology (NYSEARCA:ROM) Shares Gap Down – Here’s Why

ProShares Ultra Technology (NYSEARCA:ROM) gapped down prior to trading on Wednesday . The stock had previously closed at $71.51, but opened at $70.00. ProShares Ultra Technology shares last traded at $69.94, with a volume of 1,927 shares.

ProShares Ultra Technology Trading Down 2.7 %

The stock’s 50-day simple moving average is $68.84 and its 200-day simple moving average is $66.36.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC purchased a new position in ProShares Ultra Technology during the 3rd quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of ProShares Ultra Technology during the 2nd quarter valued at $30,000. Truvestments Capital LLC bought a new stake in shares of ProShares Ultra Technology during the 3rd quarter valued at $41,000. Howard Capital Management Inc. bought a new stake in shares of ProShares Ultra Technology during the 2nd quarter valued at $214,000. Finally, Nwam LLC bought a new stake in shares of ProShares Ultra Technology during the 3rd quarter valued at $215,000.

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.