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

ProShares Ultra Semiconductors (NYSEARCA:USD) shares gapped down prior to trading on Tuesday . The stock had previously closed at $90.36, but opened at $83.67. ProShares Ultra Semiconductors shares last traded at $83.1380, with a volume of 422,231 shares traded.

ProShares Ultra Semiconductors Trading Down 7.4%

The firm has a market capitalization of $2.53 billion, a P/E ratio of 40.05 and a beta of 3.65. The company has a 50 day simple moving average of $95.88 and a two-hundred day simple moving average of $69.84.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Federation des caisses Desjardins du Quebec bought a new position in shares of ProShares Ultra Semiconductors during the fourth quarter valued at approximately $32,000. Qube Research & Technologies Ltd purchased a new position in shares of ProShares Ultra Semiconductors in the 3rd quarter valued at approximately $64,000. BOKF NA lifted its position in ProShares Ultra Semiconductors by 100.0% during the 4th quarter. BOKF NA now owns 720 shares of the company’s stock worth $38,000 after acquiring an additional 360 shares during the period. Franklin Resources Inc. acquired a new stake in ProShares Ultra Semiconductors during the 2nd quarter valued at approximately $61,000. Finally, Whittier Trust Co. lifted its position in ProShares Ultra Semiconductors by 100.0% during the fourth quarter. Whittier Trust Co. now owns 960 shares of the company’s stock valued at $54,000 after purchasing an additional 480 shares during the period.

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.