ProShares UltraShort Technology (NYSEARCA:REW) Stock Price Pass Below Fifty Day Moving Average – Here’s What Happened

ProShares UltraShort Technology (NYSEARCA:REW)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $12.18 and traded as low as $11.52. ProShares UltraShort Technology shares last traded at $11.58, with a volume of 64,264 shares traded.

ProShares UltraShort Technology Price Performance

The business’s 50 day moving average is $12.16 and its 200-day moving average is $16.18.

Hedge Funds Weigh In On ProShares UltraShort Technology

An institutional investor recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. acquired a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned about 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.