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

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

ProShares Ultra Technology Price Performance

NYSEARCA:ROM opened at $146.87 on Friday. The firm’s 50-day moving average price is $124.64 and its 200-day moving average price is $102.88. The company has a market capitalization of $1.26 billion, a PE ratio of 38.02 and a beta of 2.72. ProShares Ultra Technology has a 1-year low of $67.59 and a 1-year high of $171.82.

Hedge Funds Weigh In On ProShares Ultra Technology

A number of hedge funds have recently bought and sold shares of ROM. Group One Trading LLC bought a new position in ProShares Ultra Technology during the 4th quarter valued at about $26,000. Royal Bank of Canada lifted its stake in ProShares Ultra Technology by 132.4% during the 4th quarter. Royal Bank of Canada now owns 711 shares of the company’s stock valued at $67,000 after acquiring an additional 405 shares during the period. Aventura Private Wealth LLC bought a new position in ProShares Ultra Technology during the 4th quarter valued at about $75,000. Cassaday & Co Wealth Management LLC bought a new position in ProShares Ultra Technology during the 1st quarter valued at about $110,000. Finally, APS Management Group Inc. bought a new position in ProShares Ultra Technology during the 4th quarter valued at about $207,000.

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.