ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Down – Here’s Why

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $68.28, but opened at $65.41. ProShares Ultra Semiconductors shares last traded at $64.52, with a volume of 176,909 shares traded.

ProShares Ultra Semiconductors Stock Performance

The company has a 50-day moving average of $68.39 and a 200 day moving average of $64.58.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

A number of large investors have recently modified their holdings of the stock. Bogart Wealth LLC bought a new position in ProShares Ultra Semiconductors during the 3rd quarter valued at approximately $120,000. Scientech Research LLC purchased 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 ProShares Ultra Semiconductors in the 2nd quarter worth about $223,000. Plotkin Financial Advisors LLC purchased a new stake in ProShares Ultra Semiconductors during the 3rd quarter valued at about $226,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in 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 valued at $3,185,000 after purchasing an additional 19,164 shares in the last quarter.

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.