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

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down prior to trading on Thursday. The stock had previously closed at $82.01, but opened at $76.53. ProShares Ultra Semiconductors shares last traded at $76.9560, with a volume of 170,834 shares changing hands.

ProShares Ultra Semiconductors Price Performance

The company has a market capitalization of $2.30 billion, a PE ratio of 40.05 and a beta of 3.70. The stock’s 50 day simple moving average is $88.90 and its 200-day simple moving average is $88.39.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in USD. Integrated Wealth Concepts LLC lifted its holdings in ProShares Ultra Semiconductors by 10.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 663,610 shares of the company’s stock worth $69,188,000 after buying an additional 64,000 shares in the last quarter. Dale Q Rice Investment Management Ltd boosted its position in ProShares Ultra Semiconductors by 0.3% in the 3rd quarter. Dale Q Rice Investment Management Ltd now owns 459,544 shares of the company’s stock valued at $44,245,000 after buying an additional 1,230 shares during the period. SBI Securities Co. Ltd. grew its stake in shares of ProShares Ultra Semiconductors by 179.9% in the third quarter. SBI Securities Co. Ltd. now owns 15,385 shares of the company’s stock worth $1,481,000 after acquiring an additional 9,889 shares in the last quarter. Client First Investment Management LLC acquired a new position in shares of ProShares Ultra Semiconductors in the second quarter worth $1,121,000. Finally, Quantinno Capital Management LP grew its stake in shares of ProShares Ultra Semiconductors by 414.2% in the first quarter. Quantinno Capital Management LP now owns 21,615 shares of the company’s stock worth $1,036,000 after acquiring an additional 17,411 shares in the last quarter.

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.