ProShares Ultra Technology (NYSEARCA:ROM) Sees Large Volume Increase – Should You Buy?

ProShares Ultra Technology (NYSEARCA:ROM) saw unusually-strong trading volume on Monday . Approximately 33,835 shares were traded during mid-day trading, a decline of 34% from the previous session’s volume of 51,313 shares.The stock last traded at $51.56 and had previously closed at $53.20.

ProShares Ultra Technology Stock Up 1.3 %

The company has a market capitalization of $550.40 million, a PE ratio of 31.28 and a beta of 2.36. The stock has a 50-day moving average of $64.33 and a 200 day moving average of $67.86.

ProShares Ultra Technology Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were paid a $0.0172 dividend. The ex-dividend date was Wednesday, March 26th.

Hedge Funds Weigh In On ProShares Ultra Technology

Several institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. purchased a new position in shares of ProShares Ultra Technology in the fourth quarter worth about $45,000. Dale Q Rice Investment Management Ltd purchased a new position in shares of ProShares Ultra Technology in the fourth quarter valued at $2,051,000. Runnymede Capital Advisors Inc. bought a new stake in shares of ProShares Ultra Technology during the 4th quarter valued at $14,423,000. IFP Advisors Inc grew its holdings in ProShares Ultra Technology by 20.0% during the 4th quarter. IFP Advisors Inc now owns 900 shares of the company’s stock valued at $63,000 after buying an additional 150 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of ProShares Ultra Technology in the fourth quarter worth about $620,000.

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.