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

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down before the market opened on Tuesday . The stock had previously closed at $110.49, but opened at $98.00. ProShares Ultra Semiconductors shares last traded at $100.6270, with a volume of 475,770 shares.

ProShares Ultra Semiconductors Stock Performance

The stock’s 50-day simple moving average is $90.69 and its 200 day simple moving average is $66.94. The company has a market capitalization of $2.96 billion, a PE ratio of 40.05 and a beta of 3.66.

Institutional Trading of ProShares Ultra Semiconductors

A number of hedge funds and other institutional investors have recently bought and sold shares of USD. Bank of America Corp DE increased 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. JPMorgan Chase & Co. acquired a new position in ProShares Ultra Semiconductors in the second quarter valued at approximately $311,000. Franklin Resources Inc. acquired a new position in ProShares Ultra Semiconductors in the second quarter valued at approximately $61,000. Raymond James Financial Inc. acquired a new position in ProShares Ultra Semiconductors in the second quarter valued at approximately $83,000. Finally, Concentrum Wealth Management purchased a new position in ProShares Ultra Semiconductors in the third quarter valued at approximately $240,000.

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. It also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.