ProShares Ultra Technology (NYSEARCA:ROM) Short Interest Down 74.0% in June

ProShares Ultra Technology (NYSEARCA:ROM) saw 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 daily volume of 119,358 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.2% of the shares of the company are sold short.

ProShares Ultra Technology Price Performance

ProShares Ultra Technology stock traded down $5.91 during mid-day trading on Friday, reaching $139.97. The company had a trading volume of 56,911 shares, compared to its average volume of 57,271. The stock’s 50-day simple moving average is $136.93 and its 200-day simple moving average is $106.87. The company has a market capitalization of $1.20 billion, a P/E ratio of 38.02 and a beta of 2.72. ProShares Ultra Technology has a 1 year low of $71.36 and a 1 year high of $171.82.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Group One Trading LLC acquired a new stake in ProShares Ultra Technology during the fourth quarter valued at approximately $26,000. Royal Bank of Canada raised its position in ProShares Ultra Technology by 132.4% in the fourth quarter. Royal Bank of Canada now owns 711 shares of the company’s stock worth $67,000 after acquiring an additional 405 shares in the last quarter. Bank of America Corp DE grew its position in ProShares Ultra Technology by 9.8% in the first quarter. Bank of America Corp DE now owns 7,250 shares of the company’s stock worth $568,000 after buying an additional 650 shares during the last quarter. Kestra Advisory Services LLC lifted its position in shares of ProShares Ultra Technology by 3.9% in the 4th quarter. Kestra Advisory Services LLC now owns 18,156 shares of the company’s stock valued at $1,712,000 after acquiring an additional 686 shares in the last quarter. Finally, Aventura Private Wealth LLC purchased a new position in ProShares Ultra Technology during the 4th quarter valued at about $75,000.

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.