ProShares Ultra Technology (NYSEARCA:ROM) Shares Gap Down – Should You Sell?

ProShares Ultra Technology (NYSEARCA:ROM)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $158.64, but opened at $145.66. ProShares Ultra Technology shares last traded at $145.0210, with a volume of 3,830 shares changing hands.

ProShares Ultra Technology Stock Performance

The business’s 50-day moving average is $134.14 and its two-hundred day moving average is $105.92. The stock has a market capitalization of $1.26 billion, a PE ratio of 38.02 and a beta of 2.72.

Institutional Trading of ProShares Ultra Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new stake in ProShares Ultra Technology in the fourth quarter valued at approximately $604,000. WealthCare Asset Management LLC purchased a new position in shares of ProShares Ultra Technology in the 4th quarter worth about $2,978,000. Integrated Advisors Network LLC purchased a new position in shares of ProShares Ultra Technology in the 4th quarter worth about $381,000. Cerity Partners LLC acquired a new position in shares of ProShares Ultra Technology in the 2nd quarter valued at about $487,000. Finally, LPL Financial LLC lifted its stake in shares of ProShares Ultra Technology by 34.9% in the 4th quarter. LPL Financial LLC now owns 5,187 shares of the company’s stock valued at $489,000 after purchasing an additional 1,343 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. 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.