ProShares Ultra Semiconductors (NYSEARCA:USD – Get Free Report) shares dropped 8.1% during trading on Friday. The company traded as low as $54.82 and last traded at $54.1130. Approximately 268,094 shares were traded during mid-day trading, a decline of 69% from the average session volume of 858,430 shares. The stock had previously closed at $58.90.
ProShares Ultra Semiconductors Trading Down 9.6%
The firm’s 50 day moving average price is $82.69 and its two-hundred day moving average price is $78.65. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 40.05 and a beta of 3.79.
Hedge Funds Weigh In On ProShares Ultra Semiconductors
A number of institutional investors have recently bought and sold shares of USD. Latitude Advisors LLC acquired a new stake in shares of ProShares Ultra Semiconductors in the third quarter valued at approximately $25,000. Hantz Financial Services Inc. bought a new stake in ProShares Ultra Semiconductors in the 3rd quarter valued at $39,000. Diversify Wealth Management LLC bought a new stake in ProShares Ultra Semiconductors in the 1st quarter valued at $155,000. Nwam LLC bought a new stake in ProShares Ultra Semiconductors in the 2nd quarter valued at $209,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in ProShares Ultra Semiconductors during the 2nd quarter valued at $223,000.
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.
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