ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Down 5.9%

ProShares Ultra Semiconductors (NYSEARCA:USD) dropped 5.9% on Wednesday . The stock traded as low as $85.86 and last traded at $86.50. Approximately 178,654 shares traded hands during trading, a decline of 51% from the average daily volume of 361,493 shares. The stock had previously closed at $91.88.

ProShares Ultra Semiconductors Price Performance

The company has a 50 day moving average price of $90.95 and a 200 day moving average price of $63.62.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. bought a new position in ProShares Ultra Semiconductors in the 1st quarter valued at about $71,000. UBS Group AG purchased a new stake in shares of ProShares Ultra Semiconductors in the third quarter worth approximately $150,000. JPMorgan Chase & Co. lifted its holdings in shares of ProShares Ultra Semiconductors by 9.2% in the first quarter. JPMorgan Chase & Co. now owns 8,645 shares of the company’s stock valued at $250,000 after purchasing an additional 729 shares in the last quarter. Advisory Alpha LLC purchased a new position in shares of ProShares Ultra Semiconductors during the fourth quarter valued at approximately $278,000. Finally, GTS Securities LLC bought a new stake in ProShares Ultra Semiconductors during the third quarter worth $312,000.

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.