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

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down before the market opened on Monday . The stock had previously closed at $96.96, but opened at $92.56. ProShares Ultra Semiconductors shares last traded at $92.2190, with a volume of 131,791 shares trading hands.

ProShares Ultra Semiconductors Price Performance

The stock’s fifty day simple moving average is $97.34 and its two-hundred day simple moving average is $71.59. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 40.05 and a beta of 3.65.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Hedge funds have recently added to or reduced their stakes in the stock. Mariner LLC acquired a new position in ProShares Ultra Semiconductors during the 3rd quarter worth $8,973,000. Dale Q Rice Investment Management Ltd boosted its position in shares of ProShares Ultra Semiconductors by 90.0% during the 4th quarter. Dale Q Rice Investment Management Ltd now owns 438,563 shares of the company’s stock valued at $23,009,000 after purchasing an additional 207,715 shares in the last quarter. Tower Research Capital LLC TRC grew its position in ProShares Ultra Semiconductors by 3,735,900.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 37,360 shares of the company’s stock worth $1,962,000 after buying an additional 37,359 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of ProShares Ultra Semiconductors by 99.3% in the 4th quarter. Blair William & Co. IL now owns 60,282 shares of the company’s stock worth $3,165,000 after acquiring an additional 30,031 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. raised its holdings in ProShares Ultra Semiconductors by 89.7% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 50,465 shares of the company’s stock worth $2,650,000 after buying an additional 23,865 shares during the period.

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