ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Down – What’s Next?

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down before the market opened on Wednesday . The stock had previously closed at $104.26, but opened at $97.54. ProShares Ultra Semiconductors shares last traded at $97.7870, with a volume of 227,581 shares changing hands.

ProShares Ultra Semiconductors Price Performance

The company has a market cap of $2.91 billion, a PE ratio of 40.05 and a beta of 3.66. The company has a 50-day moving average of $94.46 and a 200 day moving average of $68.74.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Institutional investors have recently modified their holdings of the stock. Federation des caisses Desjardins du Quebec purchased a new stake in ProShares Ultra Semiconductors during the 4th quarter valued at $32,000. BOKF NA boosted its stake in ProShares Ultra Semiconductors by 100.0% during the fourth quarter. BOKF NA now owns 720 shares of the company’s stock worth $38,000 after buying an additional 360 shares during the period. Whittier Trust Co. boosted its stake in ProShares Ultra Semiconductors by 100.0% during the fourth quarter. Whittier Trust Co. now owns 960 shares of the company’s stock worth $54,000 after buying an additional 480 shares during the period. Franklin Resources Inc. bought a new position in ProShares Ultra Semiconductors during the second quarter valued at $61,000. Finally, Qube Research & Technologies Ltd bought a new position in ProShares Ultra Semiconductors during the third quarter valued at $64,000.

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. It also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.