ProShares Ultra Semiconductors (NYSEARCA:USD) Trading Down 12.8% – What’s Next?

ProShares Ultra Semiconductors (NYSEARCA:USD)’s stock price fell 12.8% on Thursday . The company traded as low as $52.04 and last traded at $51.86. 1,239,483 shares traded hands during mid-day trading, an increase of 28% from the average session volume of 969,248 shares. The stock had previously closed at $59.47.

ProShares Ultra Semiconductors Stock Performance

The stock has a market capitalization of $910.75 million, a PE ratio of 47.97 and a beta of 2.72. The business’s 50-day moving average is $64.97 and its two-hundred day moving average is $64.03.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Hedge funds have recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new position in shares of ProShares Ultra Semiconductors in the 4th quarter valued at about $280,000. Beaton Management Co. Inc. increased its holdings in ProShares Ultra Semiconductors by 100.0% in the fourth quarter. Beaton Management Co. Inc. now owns 12,420 shares of the company’s stock valued at $809,000 after buying an additional 6,210 shares in the last quarter. Spire Wealth Management lifted its position in shares of ProShares Ultra Semiconductors by 100.1% during the 4th quarter. Spire Wealth Management now owns 3,751 shares of the company’s stock valued at $244,000 after acquiring an additional 1,876 shares during the period. Avaii Wealth Management LLC boosted its stake in shares of ProShares Ultra Semiconductors by 100.0% during the 4th quarter. Avaii Wealth Management LLC now owns 12,432 shares of the company’s stock worth $810,000 after acquiring an additional 6,216 shares in the last quarter. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of ProShares Ultra Semiconductors by 100.0% in the 4th quarter. Iron Horse Wealth Management LLC now owns 612 shares of the company’s stock worth $40,000 after acquiring an additional 306 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.