ProShares Ultra Semiconductors (NYSEARCA:USD – Get Free Report)’s share price dropped 5.5% on Monday . The company traded as low as $69.55 and last traded at $69.77. Approximately 390,784 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 957,168 shares. The stock had previously closed at $73.81.
ProShares Ultra Semiconductors Price Performance
The firm’s 50-day moving average is $63.78 and its 200-day moving average is $62.09.
Institutional Trading of ProShares Ultra Semiconductors
Several institutional investors have recently added to or reduced their stakes in the business. Hamilton Wealth LLC purchased a new stake in ProShares Ultra Semiconductors during the 1st quarter valued at $4,399,000. Client First Investment Management LLC raised its stake in shares of ProShares Ultra Semiconductors by 750.4% in the second quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock valued at $4,325,000 after acquiring an additional 27,435 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of ProShares Ultra Semiconductors by 514.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 22,891 shares of the company’s stock worth $3,185,000 after purchasing an additional 19,164 shares during the period. IMC Chicago LLC boosted its stake in shares of ProShares Ultra Semiconductors by 120.0% during the 3rd quarter. IMC Chicago LLC now owns 30,468 shares of the company’s stock worth $3,653,000 after purchasing an additional 16,620 shares during the period. Finally, Morse Asset Management Inc bought a new position in ProShares Ultra Semiconductors during the 1st quarter valued at about $268,000.
About ProShares Ultra Semiconductors
ProShares Ultra Semiconductors (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Semiconductor Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, under normal circumstances, to equity securities contained in the Index and/or financial instruments that, in combination, have similar economic characteristics.
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