ProShares Ultra Technology (NYSEARCA:ROM) Short Interest Update

ProShares Ultra Technology (NYSEARCA:ROM) saw a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 12,732 shares, a drop of 20.1% from the February 26th total of 15,942 shares. Based on an average daily volume of 37,814 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s shares are short sold.

ProShares Ultra Technology Price Performance

ROM opened at $75.12 on Monday. The firm has a 50 day simple moving average of $88.52 and a 200 day simple moving average of $92.71. ProShares Ultra Technology has a fifty-two week low of $36.68 and a fifty-two week high of $108.12. The company has a market cap of $670.82 million, a price-to-earnings ratio of 38.02 and a beta of 2.41.

ProShares Ultra Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be given a dividend of $0.0228 per share. This represents a $0.09 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, March 25th. This is a positive change from ProShares Ultra Technology’s previous quarterly dividend of $0.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Group One Trading LLC bought a new stake in ProShares Ultra Technology in the fourth quarter valued at about $26,000. PNC Financial Services Group Inc. boosted its holdings in ProShares Ultra Technology by 53.8% during 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 during the last quarter. Royal Bank of Canada grew its position in shares of ProShares Ultra Technology by 132.4% during the 4th quarter. Royal Bank of Canada now owns 711 shares of the company’s stock worth $67,000 after buying an additional 405 shares during the period. Kestra Advisory Services LLC grew its position in shares of ProShares Ultra Technology by 3.9% during the 4th quarter. Kestra Advisory Services LLC now owns 18,156 shares of the company’s stock worth $1,712,000 after buying an additional 686 shares during the period. Finally, Aventura Private Wealth LLC bought a new stake in shares of ProShares Ultra Technology in 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.