ProShares Ultra Semiconductors (NYSEARCA:USD) Stock Price Down 6.7% – What’s Next?

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price fell 6.7% during mid-day trading on Wednesday . The company traded as low as $45.65 and last traded at $45.9290. 432,427 shares were traded during trading, a decline of 67% from the average session volume of 1,309,455 shares. The stock had previously closed at $49.24.

ProShares Ultra Semiconductors Price Performance

The firm has a market cap of $1.44 billion, a PE ratio of 40.05 and a beta of 3.25. The stock’s fifty day simple moving average is $53.60 and its 200-day simple moving average is $45.49.

Institutional Trading of ProShares Ultra Semiconductors

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in ProShares Ultra Semiconductors by 100.0% in 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 period. Quintet Private Bank Europe S.A. purchased a new stake in shares of ProShares Ultra Semiconductors in the 2nd quarter valued at $31,000. Client First Investment Management LLC acquired a new position in ProShares Ultra Semiconductors during the 2nd quarter worth about $8,680,000. Wealth Enhancement Advisory Services LLC acquired a new position in ProShares Ultra Semiconductors during the 2nd quarter worth about $209,000. Finally, Sowell Financial Services LLC purchased a new position in ProShares Ultra Semiconductors during the 2nd quarter valued at about $279,000.

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.