ProShares Ultra Technology (NYSEARCA:ROM) Sets New 1-Year High – Still a Buy?

ProShares Ultra Technology (NYSEARCA:ROM) shares hit a new 52-week high on Monday . The company traded as high as $115.66 and last traded at $116.1350, with a volume of 41574 shares changing hands. The stock had previously closed at $115.11.

ProShares Ultra Technology Trading Down 0.3%

The firm has a market cap of $987.01 million, a PE ratio of 38.02 and a beta of 2.63. The business’s 50-day simple moving average is $90.68 and its 200 day simple moving average is $93.53.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Group One Trading LLC purchased a new position in shares of ProShares Ultra Technology in the 4th quarter worth approximately $26,000. Royal Bank of Canada grew its position in shares of ProShares Ultra Technology by 132.4% in the 4th 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 last quarter. Kestra Advisory Services LLC grew its position in shares of ProShares Ultra Technology by 3.9% in the 4th quarter. Kestra Advisory Services LLC now owns 18,156 shares of the company’s stock worth $1,712,000 after buying an additional 686 shares during the last quarter. Aventura Private Wealth LLC purchased a new position in shares of ProShares Ultra Technology in the 4th quarter worth approximately $75,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of ProShares Ultra Technology by 24.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,695 shares of the company’s stock worth $528,000 after buying an additional 1,115 shares during the last quarter.

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.