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

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price gapped down prior to trading on Friday. The stock had previously closed at $80.13, but opened at $72.39. ProShares Ultra Semiconductors shares last traded at $72.1310, with a volume of 246,079 shares.

ProShares Ultra Semiconductors Price Performance

The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 40.05 and a beta of 3.70. The stock has a fifty day moving average of $87.29 and a two-hundred day moving average of $78.42.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of USD. Integrated Wealth Concepts LLC boosted its position 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 purchasing an additional 64,000 shares in the last quarter. Quantinno Capital Management LP increased its holdings in ProShares Ultra Semiconductors by 414.2% in 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 in the last quarter. Harbor Group Inc. bought a new stake in ProShares Ultra Semiconductors in the third quarter worth approximately $770,000. Client First Investment Management LLC acquired a new position in ProShares Ultra Semiconductors in the second quarter valued at approximately $1,121,000. Finally, Dale Q Rice Investment Management Ltd lifted its stake in ProShares Ultra Semiconductors by 2.0% in the first quarter. Dale Q Rice Investment Management Ltd now owns 447,279 shares of the company’s stock valued at $21,447,000 after buying an additional 8,716 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.