ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Down – Should You Sell?

Shares of ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down prior to trading on Monday . The stock had previously closed at $55.76, but opened at $53.24. ProShares Ultra Semiconductors shares last traded at $55.39, with a volume of 224,615 shares trading hands.

ProShares Ultra Semiconductors Stock Down 0.8%

The company has a market cap of $1.02 billion, a PE ratio of 40.05 and a beta of 3.00. The business’s 50 day moving average price is $41.87 and its 200-day moving average price is $56.37.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

A number of institutional investors and hedge funds have recently added to or reduced their stakes in USD. Whittier Trust Co. raised its position in shares of ProShares Ultra Semiconductors by 152.6% during the 4th quarter. Whittier Trust Co. now owns 480 shares of the company’s stock valued at $31,000 after acquiring an additional 290 shares in the last quarter. Iron Horse Wealth Management LLC lifted its holdings in ProShares Ultra Semiconductors by 100.0% in the fourth 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 last quarter. Headlands Technologies LLC bought a new position in ProShares Ultra Semiconductors in the first quarter worth about $25,000. Bank of America Corp DE grew its holdings in shares of ProShares Ultra Semiconductors by 100.0% during the fourth quarter. Bank of America Corp DE now owns 1,050 shares of the company’s stock valued at $68,000 after purchasing an additional 525 shares during the last quarter. Finally, Bogart Wealth LLC raised its position in shares of ProShares Ultra Semiconductors by 50.0% during the 4th quarter. Bogart Wealth LLC now owns 1,500 shares of the company’s stock worth $98,000 after purchasing an additional 500 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.