ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Down 5%

Shares of ProShares Ultra Semiconductors (NYSEARCA:USD) were down 5% during mid-day trading on Friday . The company traded as low as $125.47 and last traded at $127.02. Approximately 346,202 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 409,062 shares. The stock had previously closed at $133.72.

ProShares Ultra Semiconductors Stock Down 4.4 %

The business’s 50 day simple moving average is $133.05 and its 200-day simple moving average is $99.30.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Iron Horse Wealth Management LLC acquired a new position in shares of ProShares Ultra Semiconductors during the 1st quarter worth about $29,000. Pure Financial Advisors LLC bought a new stake in shares of ProShares Ultra Semiconductors during the 2nd quarter worth about $239,000. Morse Asset Management Inc bought a new stake in shares of ProShares Ultra Semiconductors during the 1st quarter worth about $268,000. Advisory Alpha LLC bought a new stake in shares of ProShares Ultra Semiconductors during the 4th quarter worth about $278,000. Finally, Evanson Asset Management LLC bought a new stake in shares of ProShares Ultra Semiconductors during the 1st quarter worth about $767,000.

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.