Skip to main content

ETF technology fund update:ROM

Closing notes: The ProShares Ultra Technology Fund closed at $28.50 per share with total daily volume of 604,728 shares traded. The Dow Jones US Technology Index closed at 432.98 up 3.32%.
On a positive note, one of the companies that make up a large percentage of the holdings of the ProShares Ultra Technology Fund- (Apple) had good news coverage today on CNBC.com, which in my opinion pushed the fund's NAV a bit higher.
It will be interesting to see how the fund will trade tomorrow. Remember this is a (2X) leverage fund. It returns twice the daily results of the index; so if you invested $1000 in the fund and the index increased 10% today, you would see a return of $200 today and vice-versa if the index went down 10% you would have a negative return on your investment by $200.

If you are interested in trading this fund or have a question concerning this fund call us for a free no cost consultation at 770-572-2715. Please note: You should seek professional advice before implementing any of the strategies discussed herein, since: (1) The strategies are general in nature and will not apply to every situation; (2) Other opportunities may be better suited to your particular needs; and (3) The rules and regulations are constantly changing.
Labels:

Comments

Post a Comment

Popular posts from this blog

What to Buy- Foreign vs Domestic funds?

Calm before the storm. At least that's what I've been reading. It seems that there is still not much buying. Much of the buying seems to be just shifting funds from one account to the next. It's called "churning" in broker turns. So, I wanted to see if anyone was buying, you know, new money. I clicked on over the Investment Company Institute website to see if they could shed some light on this matter. Based on their recent reports, "Estimated inflows to long-term mutual funds were $ 12.48 billion for the week ended Wednesday, June 10, 2009 ", versus $ 13.646 billion for the week of June 3. At least it wasn't negative. There is buying. As a matter of fact, buying has almost doubled compared to inflow numbers reported in May. I also noticed that Equity Foreign Funds had a larger percentage increase than other categories while Taxable Bond Funds had a noticeable percentage decrease in inflows as compared to the previous periods. Interesting. Are in...
Post a Comment
Read more

The Old Reality is Still the New Reality

The Old Reality is Still the New Reality  Dodd Frank Illustration   I sat at my desk last week wondering what went wrong. Was I experiencing some type of trading depression? I checked my models, macro numbers, company profits, software, pricing etc. Some of my option contracts were either worthless or were on their way to being worthless.   The pricing of the contracts were not in-line with the actual underlying price of the securities that I was trading. The options' pricing per contract were either priced 40% or more above what the underlying security was worth or priced 40% or more below what the securities were worth. This old reality was still the new reality even after all of financial fixes implemented to fix these same problems that contributed to the financial meltdown in 2007-2008.   The new Dodd-Frank Wall Street Reform and ConsumerProtection Act which was supposed to clean up many of the abuses in the financial system such as accountabi...
Post a Comment
Read more

ETF update: Choppy trading

ProShares Ultra Technology Fund update: Trading still very choppy. No clear signals or direction are developing today yet. There is lots of economic data to digest or ponder such as the University of Michigan Surveys of Consumers Sentiment. Trading volume in the fund has been very heavy at roughly over 179,000 shares as of 11:27 am today. Of note, the fund had only traded 193,000 shares almost all day yesterday. 05/29/09 11:28:23 AM
Post a Comment
Read more