ProShares UltraShort Technology (NYSEARCA:REW) Shares Down 1.5% – What’s Next?

ProShares UltraShort Technology (NYSEARCA:REW) fell 1.5% on Friday. The stock traded as low as $10.20 and last traded at $10.26. Approximately 39,320 shares traded hands during trading, an increase of 22% from the average session volume of 32,204 shares. The stock had previously closed at $10.42.

ProShares UltraShort Technology Price Performance

The business’s 50-day moving average is $11.80 and its two-hundred day moving average is $14.92.

Institutional Trading of ProShares UltraShort Technology

A hedge fund recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. purchased a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned approximately 2.34% of ProShares UltraShort Technology as of its most recent SEC filing.

ProShares UltraShort Technology Company Profile

ProShares UltraShort Technology (the Fund) seeks daily investment results that correspond to twice the inverse 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.