ProShares Ultra Technology (NYSEARCA:ROM) Shares Gap Down – Here’s Why

ProShares Ultra Technology (NYSEARCA:ROM) shares gapped down before the market opened on Wednesday . The stock had previously closed at $71.51, but opened at $70.00. ProShares Ultra Technology shares last traded at $69.94, with a volume of 1,927 shares.

ProShares Ultra Technology Stock Performance

The company’s 50-day moving average price is $68.84 and its two-hundred day moving average price is $66.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ROM. Plotkin Financial Advisors LLC bought a new position in shares of ProShares Ultra Technology in the third quarter valued at $1,648,000. Truvestments Capital LLC purchased a new stake in shares of ProShares Ultra Technology in the third quarter valued at about $41,000. Larson Financial Group LLC purchased a new stake in shares of ProShares Ultra Technology in the third quarter valued at about $27,000. Nwam LLC purchased a new stake in shares of ProShares Ultra Technology in the third quarter valued at about $215,000. Finally, Tyche Wealth Partners LLC raised its holdings in shares of ProShares Ultra Technology by 44.4% in the third quarter. Tyche Wealth Partners LLC now owns 33,088 shares of the company’s stock valued at $2,219,000 after purchasing an additional 10,170 shares during 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.