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

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down prior to trading on Thursday. The stock had previously closed at $59.99, but opened at $52.89. ProShares Ultra Semiconductors shares last traded at $55.68, with a volume of 592,633 shares changing hands.

ProShares Ultra Semiconductors Stock Performance

The firm has a market capitalization of $1.88 billion, a P/E ratio of 40.05 and a beta of 3.79. The firm has a 50 day moving average price of $83.20 and a two-hundred day moving average price of $78.63.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

A number of hedge funds have recently added to or reduced their stakes in USD. Integrated Wealth Concepts LLC increased its holdings in shares of ProShares Ultra Semiconductors by 10.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 663,610 shares of the company’s stock valued at $69,188,000 after acquiring an additional 64,000 shares during the last quarter. Dale Q Rice Investment Management Ltd lifted its holdings in ProShares Ultra Semiconductors by 0.3% in the 3rd quarter. Dale Q Rice Investment Management Ltd now owns 459,544 shares of the company’s stock worth $44,245,000 after purchasing an additional 1,230 shares during the last quarter. Quantinno Capital Management LP boosted its position 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 purchasing an additional 17,411 shares during the period. SBI Securities Co. Ltd. boosted its position in ProShares Ultra Semiconductors by 179.9% during the third quarter. SBI Securities Co. Ltd. now owns 15,385 shares of the company’s stock worth $1,481,000 after purchasing an additional 9,889 shares during the period. Finally, Client First Investment Management LLC bought a new stake in ProShares Ultra Semiconductors during the second quarter worth approximately $1,121,000.

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.