ProShares Ultra Semiconductors (NYSEARCA:USD) Trading Down 8.9% – Here’s What Happened

Shares of ProShares Ultra Semiconductors (NYSEARCA:USD) fell 8.9% during trading on Tuesday . The company traded as low as $125.63 and last traded at $129.33. 287,710 shares were traded during mid-day trading, a decline of 40% from the average session volume of 482,286 shares. The stock had previously closed at $141.95.

ProShares Ultra Semiconductors Trading Down 9.7 %

The stock’s fifty day moving average is $115.54 and its two-hundred day moving average is $116.24.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Iron Horse Wealth Management LLC bought a new position in shares of ProShares Ultra Semiconductors in the 1st quarter worth about $29,000. Scientech Research LLC bought a new position in shares of ProShares Ultra Semiconductors in the 2nd quarter worth about $220,000. First National Trust Co bought a new position in shares of ProShares Ultra Semiconductors in the 2nd quarter worth about $223,000. Pure Financial Advisors LLC bought a new position in shares of ProShares Ultra Semiconductors in the 2nd quarter worth about $239,000. Finally, Morse Asset Management Inc bought a new position in shares of ProShares Ultra Semiconductors in the 1st quarter worth about $268,000.

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.