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

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down before the market opened on Wednesday . The stock had previously closed at $62.61, but opened at $61.28. ProShares Ultra Semiconductors shares last traded at $60.42, with a volume of 67,781 shares changing hands.

ProShares Ultra Semiconductors Trading Down 6.5 %

The stock has a fifty day moving average of $66.73 and a 200-day moving average of $63.58.

Institutional Trading of ProShares Ultra Semiconductors

A number of hedge funds have recently modified their holdings of the stock. Hamilton Wealth LLC acquired a new stake in shares of ProShares Ultra Semiconductors in the first quarter valued at $4,399,000. Client First Investment Management LLC increased its stake in ProShares Ultra Semiconductors by 750.4% in the 2nd quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock valued at $4,325,000 after buying an additional 27,435 shares during the period. IMC Chicago LLC grew its stake in shares of ProShares Ultra Semiconductors by 120.0% during the 3rd quarter. IMC Chicago LLC now owns 30,468 shares of the company’s stock worth $3,653,000 after purchasing an additional 16,620 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of ProShares Ultra Semiconductors by 514.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 22,891 shares of the company’s stock worth $3,185,000 after purchasing an additional 19,164 shares during the period. Finally, Plotkin Financial Advisors LLC acquired a new position in shares of ProShares Ultra Semiconductors during the 3rd quarter worth approximately $226,000.

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.