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

ProShares Ultra Semiconductors (NYSEARCA:USD)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $110.49, but opened at $98.00. ProShares Ultra Semiconductors shares last traded at $100.6270, with a volume of 475,770 shares.

ProShares Ultra Semiconductors Trading Down 11.7%

The firm’s fifty day moving average price is $90.69 and its 200-day moving average price is $66.94. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 40.05 and a beta of 3.66.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in USD. Federation des caisses Desjardins du Quebec acquired a new stake in shares of ProShares Ultra Semiconductors in the fourth quarter valued at approximately $32,000. BOKF NA raised its position in ProShares Ultra Semiconductors by 100.0% in the 4th quarter. BOKF NA now owns 720 shares of the company’s stock valued at $38,000 after purchasing an additional 360 shares during the last quarter. Whittier Trust Co. raised its position in ProShares Ultra Semiconductors by 100.0% in the 4th quarter. Whittier Trust Co. now owns 960 shares of the company’s stock valued at $54,000 after purchasing an additional 480 shares during the last quarter. Franklin Resources Inc. acquired a new stake in ProShares Ultra Semiconductors during the 2nd quarter worth $61,000. Finally, Qube Research & Technologies Ltd acquired a new stake in ProShares Ultra Semiconductors during the 3rd quarter worth $64,000.

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