ProShares Ultra Technology (NYSEARCA:ROM) Stock Short Interest Falls 40.8%

ProShares Ultra Technology (NYSEARCA:ROM) saw a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 14,975 shares, a decline of 40.8% from the August 31st total of 25,308 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 21,637 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On ProShares Ultra Technology

Several hedge funds have recently bought and sold shares of the company. WealthCare Asset Management LLC purchased a new position in ProShares Ultra Technology in the fourth quarter valued at about $2,978,000. Clearwater Capital Advisors LLC acquired a new stake in shares of ProShares Ultra Technology during the first quarter worth approximately $316,000. Wealthcare Advisory Partners LLC bought a new stake in shares of ProShares Ultra Technology in the second quarter worth $244,000. Valeo Financial Advisors LLC bought a new stake in shares of ProShares Ultra Technology in the second quarter worth $240,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in ProShares Ultra Technology in the first quarter valued at $110,000.

ProShares Ultra Technology Trading Up 2.2%

Shares of ProShares Ultra Technology stock traded up $3.50 during trading hours on Wednesday, hitting $160.74. 10,069 shares of the company were exchanged, compared to its average volume of 53,074. ProShares Ultra Technology has a 1 year low of $71.36 and a 1 year high of $171.82. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 38.02 and a beta of 2.73. The business has a 50-day moving average of $143.98 and a 200-day moving average of $130.71.

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.