ProShares Ultra Technology (NYSEARCA:ROM) Shares Break Above Fifty Day Moving Average – Should You Sell?

ProShares Ultra Technology (NYSEARCA:ROM)’s share price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $149.62 and traded as high as $150.87. ProShares Ultra Technology shares last traded at $150.32, with a volume of 59,053 shares.

ProShares Ultra Technology Stock Performance

The company has a fifty day simple moving average of $149.55 and a two-hundred day simple moving average of $125.14. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 38.02 and a beta of 2.72.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ROM. Livelsberger Financial Advisory bought a new position in ProShares Ultra Technology during the third quarter worth $112,000. Oppenheimer & Co. Inc. bought a new stake in ProShares Ultra Technology during the third quarter valued at $446,000. Client First Investment Management LLC bought a new stake in ProShares Ultra Technology during the third quarter valued at $4,852,000. Tucker Asset Management LLC acquired a new stake in ProShares Ultra Technology during the 2nd quarter worth about $41,000. Finally, Wealthcare Advisory Partners LLC acquired a new stake in ProShares Ultra Technology during the 2nd quarter worth about $244,000.

About ProShares Ultra Technology

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.