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

ProShares Ultra Semiconductors (NYSEARCA:USD) shares gapped down prior to trading on Thursday. The stock had previously closed at $84.57, but opened at $78.95. ProShares Ultra Semiconductors shares last traded at $78.7480, with a volume of 369,770 shares.

ProShares Ultra Semiconductors Trading Down 6.5%

The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 40.05 and a beta of 3.70. The firm has a 50-day moving average price of $89.54 and a 200-day moving average price of $87.43.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Harbor Group Inc. acquired a new position in ProShares Ultra Semiconductors during the third quarter worth about $770,000. 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 valued at $44,245,000 after acquiring an additional 1,230 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in ProShares Ultra Semiconductors by 4.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 10,404 shares of the company’s stock valued at $1,002,000 after acquiring an additional 456 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in ProShares Ultra Semiconductors in the 2nd quarter valued at about $223,000. Finally, 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.

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.