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

Shares of ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down before the market opened on Tuesday . The stock had previously closed at $90.36, but opened at $83.67. ProShares Ultra Semiconductors shares last traded at $83.1380, with a volume of 422,231 shares.

ProShares Ultra Semiconductors Trading Down 7.4%

The company’s 50 day moving average is $95.88 and its 200 day moving average is $69.84. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 40.05 and a beta of 3.65.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BOKF NA increased its stake in shares of 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 acquiring an additional 360 shares during the period. Whittier Trust Co. grew its holdings 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 acquiring an additional 480 shares during the period. 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 worth $68,000 after acquiring an additional 525 shares in the last quarter. Federation des caisses Desjardins du Quebec purchased a new position in ProShares Ultra Semiconductors in the fourth quarter worth $32,000. Finally, Qube Research & Technologies Ltd acquired a new stake in ProShares Ultra Semiconductors in 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.