ProShares Ultra Technology (NYSEARCA:ROM) Shares Gap Down – Here’s What Happened

Shares of ProShares Ultra Technology (NYSEARCA:ROM) gapped down before the market opened on Thursday . The stock had previously closed at $143.25, but opened at $136.14. ProShares Ultra Technology shares last traded at $135.2770, with a volume of 1,699 shares trading hands.

ProShares Ultra Technology Trading Down 2.2%

The firm’s 50-day moving average is $145.47 and its 200 day moving average is $111.65. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 38.02 and a beta of 2.71.

Institutional Trading of ProShares Ultra Technology

A number of institutional investors have recently bought and sold shares of the company. Cerity Partners LLC acquired a new stake in ProShares Ultra Technology in the second quarter valued at approximately $487,000. Quantinno Capital Management LP acquired a new position in shares of ProShares Ultra Technology during the second quarter worth approximately $1,032,000. Great Valley Advisor Group Inc. acquired a new position in shares of ProShares Ultra Technology during the second quarter worth approximately $262,000. Osaic Holdings Inc. lifted its holdings in shares of ProShares Ultra Technology by 1,259.3% in the 2nd quarter. Osaic Holdings Inc. now owns 10,331 shares of the company’s stock worth $786,000 after purchasing an additional 9,571 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings 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 purchasing an additional 1,115 shares in the last quarter.

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.