Short Interest in ProShares Ultra Technology (NYSEARCA:ROM) Drops By 45.7%

ProShares Ultra Technology (NYSEARCA:ROM) saw a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 12,591 shares, a decline of 45.7% from the January 15th total of 23,195 shares. Based on an average daily trading volume, of 41,820 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the company’s shares are short sold. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 41,820 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On ProShares Ultra Technology

A number of hedge funds have recently made changes to their positions in the business. Group One Trading LLC purchased a new stake in shares of ProShares Ultra Technology during the 4th quarter valued at about $26,000. Aventura Private Wealth LLC bought a new stake in ProShares Ultra Technology during the fourth quarter worth approximately $75,000. PNC Financial Services Group Inc. raised its position in ProShares Ultra Technology by 53.8% during the second quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the company’s stock valued at $76,000 after purchasing an additional 350 shares during the period. Kanawha Capital Management LLC bought a new stake in shares of ProShares Ultra Technology in the 3rd quarter valued at approximately $203,000. Finally, APS Management Group Inc. purchased a new position in shares of ProShares Ultra Technology in the 4th quarter worth approximately $207,000.

ProShares Ultra Technology Stock Up 0.6%

NYSEARCA:ROM traded up $0.51 on Friday, hitting $87.56. The stock had a trading volume of 34,587 shares, compared to its average volume of 41,163. The business’s 50-day simple moving average is $94.76 and its two-hundred day simple moving average is $91.70. The stock has a market cap of $781.91 million, a price-to-earnings ratio of 38.02 and a beta of 2.41. ProShares Ultra Technology has a 52-week low of $36.68 and a 52-week high of $108.12.

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.