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

Shares of ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down prior to trading on Thursday. The stock had previously closed at $84.57, but opened at $78.95. ProShares Ultra Semiconductors shares last traded at $78.7480, with a volume of 369,770 shares changing hands.

ProShares Ultra Semiconductors Stock Performance

The firm’s 50-day simple moving average is $90.04 and its 200 day simple moving average is $87.25. The company has a market cap of $2.49 billion, a P/E ratio of 40.05 and a beta of 3.70.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

A number of institutional investors have recently made changes to their positions in USD. Integrated Wealth Concepts LLC lifted its stake in ProShares Ultra Semiconductors by 10.7% in the second quarter. Integrated Wealth Concepts LLC now owns 663,610 shares of the company’s stock valued at $69,188,000 after buying an additional 64,000 shares during the period. Quantinno Capital Management LP boosted its holdings in ProShares Ultra Semiconductors by 414.2% during the first quarter. Quantinno Capital Management LP now owns 21,615 shares of the company’s stock worth $1,036,000 after buying an additional 17,411 shares during the last quarter. Client First Investment Management LLC bought a new position in ProShares Ultra Semiconductors during the second quarter worth about $1,121,000. Harbor Group Inc. bought a new position in ProShares Ultra Semiconductors during the third quarter worth about $770,000. Finally, Dale Q Rice Investment Management Ltd grew its position in shares of ProShares Ultra Semiconductors by 2.0% during the 1st quarter. Dale Q Rice Investment Management Ltd now owns 447,279 shares of the company’s stock worth $21,447,000 after buying an additional 8,716 shares during the period.

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.