ProShares Ultra Technology (NYSEARCA:ROM) Sees Large Decline in Short Interest

ProShares Ultra Technology (NYSEARCA:ROM) saw a significant decrease in short interest in January. As of January 30th, there was short interest totaling 12,591 shares, a decrease of 45.7% from the January 15th total of 23,195 shares. Based on an average daily volume of 41,820 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the company’s shares are short sold. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 41,820 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Group One Trading LLC bought a new stake in shares of ProShares Ultra Technology in the 4th quarter valued at about $26,000. Aventura Private Wealth LLC bought a new position in shares of ProShares Ultra Technology during the fourth quarter valued at approximately $75,000. PNC Financial Services Group Inc. raised its stake in ProShares Ultra Technology by 53.8% in the second quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the company’s stock worth $76,000 after buying an additional 350 shares in the last quarter. Kanawha Capital Management LLC bought a new stake in ProShares Ultra Technology during the 3rd quarter valued at $203,000. Finally, APS Management Group Inc. bought a new stake in ProShares Ultra Technology during the 4th quarter valued at $207,000.

ProShares Ultra Technology Stock Performance

NYSEARCA ROM traded up $0.51 on Friday, reaching $87.56. 34,587 shares of the stock traded hands, compared to its average volume of 41,163. ProShares Ultra Technology has a 12 month low of $36.68 and a 12 month high of $108.12. The company has a market cap of $781.91 million, a price-to-earnings ratio of 38.02 and a beta of 2.41. The company has a fifty day moving average price of $94.76 and a 200-day moving average price of $91.76.

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.