ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Shorted: Short Interest Up 67.3% in October

ProShares Ultra Semiconductors (NYSEARCA:USD) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 487,022 shares, a growth of 67.3% from the September 30th total of 291,129 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average daily volume of 588,559 shares, the days-to-cover ratio is presently 0.8 days.

ProShares Ultra Semiconductors Stock Performance

Shares of USD stock opened at $66.02 on Tuesday. The stock has a fifty day moving average price of $86.61 and a 200 day moving average price of $78.54. The stock has a market cap of $2.07 billion, a PE ratio of 40.05 and a beta of 3.70. ProShares Ultra Semiconductors has a 1 year low of $42.56 and a 1 year high of $116.50.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Latitude Advisors LLC acquired a new position in shares of ProShares Ultra Semiconductors in the 3rd quarter valued at approximately $25,000. Nwam LLC purchased a new position in shares of ProShares Ultra Semiconductors during the 2nd quarter valued at approximately $209,000. Sequoia Financial Advisors LLC acquired a new stake in shares of ProShares Ultra Semiconductors during the second quarter worth approximately $223,000. Diversify Wealth Management LLC acquired a new stake in shares of ProShares Ultra Semiconductors during the first quarter worth approximately $155,000. Finally, Independent Financial Group LLC bought a new stake in shares of ProShares Ultra Semiconductors in the first quarter worth $231,000.

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