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

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $48.84, but opened at $45.22. ProShares Ultra Semiconductors shares last traded at $46.48, with a volume of 426,032 shares trading hands.

ProShares Ultra Semiconductors Stock Performance

The stock’s 50 day simple moving average is $63.18 and its 200 day simple moving average is $63.74. The firm has a market cap of $797.06 million, a PE ratio of 47.97 and a beta of 2.72.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

A number of large investors have recently made changes to their positions in the business. Plotkin Financial Advisors LLC increased its position in shares of ProShares Ultra Semiconductors by 219.4% during the fourth quarter. Plotkin Financial Advisors LLC now owns 6,020 shares of the company’s stock valued at $392,000 after acquiring an additional 4,135 shares in the last quarter. US Asset Management LLC purchased a new position in ProShares Ultra Semiconductors in the 4th quarter worth approximately $1,251,000. Morse Asset Management Inc boosted its holdings in shares of ProShares Ultra Semiconductors by 372.9% during the 4th quarter. Morse Asset Management Inc now owns 9,457 shares of the company’s stock valued at $616,000 after purchasing an additional 7,457 shares during the last quarter. Bank of America Corp DE boosted its stake in ProShares Ultra Semiconductors by 100.0% during the fourth quarter. Bank of America Corp DE now owns 1,050 shares of the company’s stock valued at $68,000 after buying an additional 525 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of ProShares Ultra Semiconductors during the 4th quarter valued at approximately $219,000.

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.