ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Down – Should You Sell?

ProShares Ultra Semiconductors (NYSEARCA:USD) shares gapped down prior to trading on Monday . The stock had previously closed at $66.94, but opened at $64.92. ProShares Ultra Semiconductors shares last traded at $65.37, with a volume of 126,164 shares trading hands.

ProShares Ultra Semiconductors Price Performance

The firm’s 50-day moving average is $67.97 and its 200 day moving average is $64.44.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Several institutional investors have recently added to or reduced their stakes in USD. Client First Investment Management LLC lifted its position in ProShares Ultra Semiconductors by 750.4% during the 2nd quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock worth $4,325,000 after buying an additional 27,435 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position 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 in the last quarter. IMC Chicago LLC boosted its position 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 acquiring an additional 16,620 shares in the last quarter. Plotkin Financial Advisors LLC acquired a new stake in shares of ProShares Ultra Semiconductors during the 3rd quarter worth approximately $226,000. Finally, Pure Financial Advisors LLC acquired a new stake in ProShares Ultra Semiconductors in the second quarter valued at approximately $239,000.

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.