ProShares Ultra Technology (NYSEARCA:ROM) Reaches New 12-Month High – Time to Buy?

ProShares Ultra Technology (NYSEARCA:ROM) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $137.59 and last traded at $136.3720, with a volume of 7186 shares trading hands. The stock had previously closed at $135.07.

ProShares Ultra Technology Trading Up 2.1%

The company’s 50-day simple moving average is $92.89 and its 200-day simple moving average is $94.18. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 38.02 and a beta of 2.63.

Institutional Investors Weigh In On ProShares Ultra Technology

Several large investors have recently modified their holdings of the company. Cassaday & Co Wealth Management LLC acquired a new stake in shares of ProShares Ultra Technology during the first quarter worth $110,000. Integrated Advisors Network LLC acquired a new stake in shares of ProShares Ultra Technology during the fourth quarter worth $381,000. Osaic Holdings Inc. increased its position in shares of ProShares Ultra Technology by 48.0% during the fourth quarter. Osaic Holdings Inc. now owns 10,837 shares of the company’s stock worth $1,022,000 after buying an additional 3,517 shares during the period. WealthCare Asset Management LLC acquired a new stake in shares of ProShares Ultra Technology during the fourth quarter worth $2,978,000. Finally, Royal Bank of Canada increased its position in shares of ProShares Ultra Technology by 132.4% during the fourth quarter. Royal Bank of Canada now owns 711 shares of the company’s stock worth $67,000 after buying an additional 405 shares during the period.

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.