ProShares Ultra Technology (NYSEARCA:ROM) Trading Up 2% – Time to Buy?

ProShares Ultra Technology (NYSEARCA:ROM) shares rose 2% during trading on Monday . The stock traded as high as $73.14 and last traded at $73.08. Approximately 23,810 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 57,821 shares. The stock had previously closed at $71.67.

ProShares Ultra Technology Stock Up 2.1 %

The company has a 50 day moving average price of $70.96 and a 200-day moving average price of $67.77.

Hedge Funds Weigh In On ProShares Ultra Technology

Hedge funds have recently modified their holdings of the stock. Plotkin Financial Advisors LLC purchased a new stake in shares of ProShares Ultra Technology in the third quarter valued at $1,648,000. Strategic Investment Solutions Inc. IL acquired a new stake in ProShares Ultra Technology during the 2nd quarter worth about $30,000. Nwam LLC purchased a new position in ProShares Ultra Technology during the 3rd quarter valued at about $215,000. Howard Capital Management Inc. acquired a new position in shares of ProShares Ultra Technology in the 2nd quarter valued at about $214,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of ProShares Ultra Technology by 602.4% in the second 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 in the last quarter.

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.