ProShares UltraShort Technology (NYSEARCA:REW) Stock Price Cross Below 50 Day Moving Average – Time to Sell?

Shares of ProShares UltraShort Technology (NYSEARCA:REW) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.38 and traded as low as $11.42. ProShares UltraShort Technology shares last traded at $11.56, with a volume of 9,222 shares trading hands.

ProShares UltraShort Technology Stock Up 0.2%

The firm has a 50 day moving average price of $12.38 and a 200 day moving average price of $17.48.

Institutional Trading of ProShares UltraShort Technology

A hedge fund recently bought a new position in ProShares UltraShort Technology stock. CPR Investments Inc. purchased a new position in ProShares UltraShort Technology (NYSEARCA:REW) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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.

About ProShares UltraShort Technology

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.