ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Down – Time to Sell?

ProShares Ultra Semiconductors (NYSEARCA:USD) shares gapped down before the market opened on Wednesday . The stock had previously closed at $49.20, but opened at $48.13. ProShares Ultra Semiconductors shares last traded at $45.75, with a volume of 150,584 shares changing hands.

ProShares Ultra Semiconductors Price Performance

The firm’s 50-day moving average price is $57.21 and its 200-day moving average price is $62.63. The stock has a market cap of $822.65 million, a P/E ratio of 34.10 and a beta of 2.78.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Several large investors have recently made changes to their positions in the company. Whittier Trust Co. lifted its position in ProShares Ultra Semiconductors by 152.6% during the fourth quarter. Whittier Trust Co. now owns 480 shares of the company’s stock valued at $31,000 after purchasing an additional 290 shares during the last quarter. Iron Horse Wealth Management LLC raised its position in shares of ProShares Ultra Semiconductors by 100.0% during the 4th quarter. Iron Horse Wealth Management LLC now owns 612 shares of the company’s stock valued at $40,000 after buying an additional 306 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of ProShares Ultra Semiconductors by 100.0% in the 4th quarter. Bank of America Corp DE now owns 1,050 shares of the company’s stock valued at $68,000 after acquiring an additional 525 shares during the last quarter. Bogart Wealth LLC grew its position in ProShares Ultra Semiconductors by 50.0% in the fourth quarter. Bogart Wealth LLC now owns 1,500 shares of the company’s stock worth $98,000 after acquiring an additional 500 shares in the last quarter. Finally, First National Trust Co purchased a new stake in ProShares Ultra Semiconductors during the fourth quarter valued at approximately $208,000.

ProShares Ultra Semiconductors Company Profile

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.