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

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down before the market opened on Tuesday . The stock had previously closed at $90.36, but opened at $83.67. ProShares Ultra Semiconductors shares last traded at $83.1380, with a volume of 422,231 shares changing hands.

ProShares Ultra Semiconductors Stock Up 5.7%

The firm’s 50-day moving average price is $96.15 and its 200 day moving average price is $70.43. The company has a market capitalization of $2.75 billion, a P/E ratio of 40.05 and a beta of 3.65.

Institutional Trading of ProShares Ultra Semiconductors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federation des caisses Desjardins du Quebec bought a new position 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 buying 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 buying an additional 480 shares during the last quarter. Franklin Resources Inc. purchased a new stake in ProShares Ultra Semiconductors in the 2nd quarter valued at $61,000. Finally, Qube Research & Technologies Ltd purchased a new position in ProShares Ultra Semiconductors during the 3rd quarter worth $64,000.

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