Short Interest in ProShares Ultra Technology (NYSEARCA:ROM) Declines By 74.0%

ProShares Ultra Technology (NYSEARCA:ROM) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 14,301 shares, a drop of 74.0% from the May 31st total of 54,938 shares. Based on an average trading volume of 119,358 shares, the short-interest ratio is presently 0.1 days. Currently, 0.2% of the company’s shares are short sold.

Hedge Funds Weigh In On ProShares Ultra Technology

A number of institutional investors and hedge funds have recently modified their holdings of ROM. Bank of America Corp DE boosted its stake in shares of ProShares Ultra Technology by 9.8% during the 1st quarter. Bank of America Corp DE now owns 7,250 shares of the company’s stock worth $568,000 after purchasing an additional 650 shares during the period. Clearwater Capital Advisors LLC purchased a new stake in ProShares Ultra Technology in the 1st quarter worth about $316,000. Cassaday & Co Wealth Management LLC purchased a new stake in ProShares Ultra Technology in the 1st quarter worth about $110,000. Integrated Advisors Network LLC bought a new stake in ProShares Ultra Technology in the fourth quarter worth about $381,000. Finally, Osaic Holdings Inc. lifted its stake in ProShares Ultra Technology by 48.0% in the fourth quarter. Osaic Holdings Inc. now owns 10,837 shares of the company’s stock worth $1,022,000 after purchasing an additional 3,517 shares during the last quarter.

ProShares Ultra Technology Stock Up 5.3%

NYSEARCA ROM traded up $7.43 during trading hours on Monday, hitting $147.40. 59,868 shares of the company were exchanged, compared to its average volume of 57,292. The stock has a 50-day moving average price of $136.93 and a 200 day moving average price of $106.87. ProShares Ultra Technology has a 52 week low of $71.36 and a 52 week high of $171.82. The stock has a market cap of $1.27 billion, a PE ratio of 38.02 and a beta of 2.72.

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.