ProShares Ultra Technology (NYSEARCA:ROM) Reaches New 12-Month High – Should You Buy?

ProShares Ultra Technology (NYSEARCA:ROM) hit a new 52-week high on Tuesday . The company traded as high as $113.52 and last traded at $113.40, with a volume of 52250 shares traded. The stock had previously closed at $113.03.

ProShares Ultra Technology Price Performance

The business’s 50-day moving average price is $89.33 and its two-hundred day moving average price is $93.14. The company has a market capitalization of $974.11 million, a P/E ratio of 38.02 and a beta of 2.50.

Hedge Funds Weigh In On ProShares Ultra Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. boosted its position in shares of ProShares Ultra Technology by 48.0% during the fourth quarter. Osaic Holdings Inc. now owns 10,837 shares of the company’s stock worth $1,022,000 after purchasing an additional 3,517 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of ProShares Ultra Technology by 45.3% during the fourth quarter. HighTower Advisors LLC now owns 8,623 shares of the company’s stock worth $813,000 after purchasing an additional 2,690 shares in the last quarter. River Wealth Advisors LLC bought a new position in shares of ProShares Ultra Technology during the fourth quarter worth $552,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of ProShares Ultra Technology by 24.3% during the third 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. Finally, LPL Financial LLC boosted its position in shares of ProShares Ultra Technology by 34.9% during the fourth quarter. LPL Financial LLC now owns 5,187 shares of the company’s stock worth $489,000 after purchasing an additional 1,343 shares in the last quarter.

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.