ProShares Ultra Technology (NYSEARCA:ROM) Shares Gap Up – Time to Buy?

Shares of ProShares Ultra Technology (NYSEARCA:ROM) gapped up before the market opened on Friday . The stock had previously closed at $140.82, but opened at $148.02. ProShares Ultra Technology shares last traded at $146.4510, with a volume of 2,357 shares.

ProShares Ultra Technology Price Performance

The company has a market capitalization of $1.19 billion, a PE ratio of 38.02 and a beta of 2.73. The stock has a 50-day simple moving average of $140.89 and a 200 day simple moving average of $126.73.

Institutional Investors Weigh In On ProShares Ultra Technology

A number of large investors have recently added to or reduced their stakes in the business. Tucker Asset Management LLC purchased a new stake in shares of ProShares Ultra Technology in the second quarter valued at about $41,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of ProShares Ultra Technology in the second quarter valued at approximately $244,000. Valeo Financial Advisors LLC purchased a new position in shares of ProShares Ultra Technology during the 2nd quarter worth approximately $240,000. Bank of America Corp DE increased 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 in the last quarter. Finally, Clearwater Capital Advisors LLC purchased a new position in shares of ProShares Ultra Technology during the 1st quarter worth approximately $316,000.

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. 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.