ProShares Ultra Technology (NYSEARCA:ROM) Shares Up 1.2% – Should You Buy?

ProShares Ultra Technology (NYSEARCA:ROM) shares shot up 1.2% during trading on Monday . The company traded as high as $97.11 and last traded at $96.20. 20,134 shares were traded during trading, a decline of 65% from the average session volume of 57,525 shares. The stock had previously closed at $95.10.

ProShares Ultra Technology Stock Performance

The firm has a market capitalization of $874.46 million, a P/E ratio of 38.02 and a beta of 2.41. The stock has a 50 day moving average of $96.00 and a 200-day moving average of $86.58.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ROM. Freedom Investment Management Inc. increased its position in ProShares Ultra Technology by 17.2% during the 1st quarter. Freedom Investment Management Inc. now owns 6,928 shares of the company’s stock valued at $370,000 after purchasing an additional 1,019 shares during the period. Gotham Asset Management LLC purchased a new stake in ProShares Ultra Technology in the first quarter worth approximately $11,340,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of ProShares Ultra Technology during the 2nd quarter valued at about $276,000. Tyche Wealth Partners LLC increased its stake in shares of ProShares Ultra Technology by 102.5% in the 2nd quarter. Tyche Wealth Partners LLC now owns 78,397 shares of the company’s stock worth $5,967,000 after purchasing an additional 39,675 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in ProShares Ultra Technology by 350.8% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 17,433 shares of the company’s stock worth $1,396,000 after acquiring an additional 13,566 shares during the period.

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.