ProShares Ultra Technology (NYSEARCA:ROM) Sets New 52-Week High – Here’s What Happened

ProShares Ultra Technology (NYSEARCA:ROM) reached a new 52-week high on Thursday . The stock traded as high as $151.09 and last traded at $148.14, with a volume of 44350 shares trading hands. The stock had previously closed at $149.73.

ProShares Ultra Technology Trading Down 1.1%

The firm has a 50-day moving average of $107.48 and a 200 day moving average of $97.94. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 38.02 and a beta of 2.63.

Hedge Funds Weigh In On ProShares Ultra Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Group One Trading LLC acquired a new position in ProShares Ultra Technology during the 4th quarter worth approximately $26,000. Royal Bank of Canada lifted its position in ProShares Ultra Technology by 132.4% during the 4th quarter. Royal Bank of Canada now owns 711 shares of the company’s stock worth $67,000 after acquiring an additional 405 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in ProShares Ultra Technology during the 4th quarter worth approximately $75,000. Cassaday & Co Wealth Management LLC acquired a new position in ProShares Ultra Technology during the 1st quarter worth approximately $110,000. Finally, APS Management Group Inc. acquired a new position in ProShares Ultra Technology during the 4th quarter worth approximately $207,000.

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. 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.