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

ProShares Ultra Semiconductors (NYSEARCA:USD)’s stock price gapped down prior to trading on Friday. The stock had previously closed at $80.13, but opened at $72.39. ProShares Ultra Semiconductors shares last traded at $72.1310, with a volume of 246,079 shares.

ProShares Ultra Semiconductors Price Performance

The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 40.05 and a beta of 3.70. The firm’s fifty day moving average price is $87.29 and its two-hundred day moving average price is $78.42.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Latitude Advisors LLC bought a new stake in ProShares Ultra Semiconductors during the 3rd quarter valued at $25,000. Farther Finance Advisors LLC grew its holdings in ProShares Ultra Semiconductors by 4.6% during the third quarter. Farther Finance Advisors LLC now owns 10,404 shares of the company’s stock worth $1,002,000 after buying an additional 456 shares in the last quarter. Dale Q Rice Investment Management Ltd boosted its holdings in ProShares Ultra Semiconductors by 0.3% during the 3rd quarter. Dale Q Rice Investment Management Ltd now owns 459,544 shares of the company’s stock worth $44,245,000 after acquiring an additional 1,230 shares during the last quarter. Nwam LLC bought a new position in shares of ProShares Ultra Semiconductors during the second quarter valued at about $209,000. Finally, Sequoia Financial Advisors LLC bought a new stake in ProShares Ultra Semiconductors in the 2nd quarter worth about $223,000.

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.