ProShares Ultra Technology (NYSEARCA:ROM) Short Interest Up 134.3% in May

ProShares Ultra Technology (NYSEARCA:ROM) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 54,938 shares, an increase of 134.3% from the May 14th total of 23,448 shares. Based on an average daily trading volume, of 69,785 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.6% of the shares of the stock are short sold.

ProShares Ultra Technology Price Performance

Shares of ROM opened at $146.87 on Friday. ProShares Ultra Technology has a 1 year low of $67.59 and a 1 year high of $171.82. The company has a 50 day simple moving average of $124.64 and a two-hundred day simple moving average of $102.88. The firm has a market cap of $1.26 billion, a P/E ratio of 38.02 and a beta of 2.72.

Institutional Investors Weigh In On ProShares Ultra Technology

A number of institutional investors have recently added to or reduced their stakes in ROM. Cerity Partners LLC purchased a new stake in ProShares Ultra Technology during the 2nd quarter valued at approximately $487,000. Quantinno Capital Management LP purchased a new stake in ProShares Ultra Technology during the 2nd quarter valued at approximately $1,032,000. Great Valley Advisor Group Inc. purchased a new stake in ProShares Ultra Technology during the 2nd quarter valued at approximately $262,000. Osaic Holdings Inc. grew its holdings in ProShares Ultra Technology by 1,259.3% during the 2nd quarter. Osaic Holdings Inc. now owns 10,331 shares of the company’s stock valued at $786,000 after buying an additional 9,571 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of ProShares Ultra Technology by 24.3% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,695 shares of the company’s stock valued at $528,000 after acquiring an additional 1,115 shares during 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.