ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Down – Time to Sell?

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down before the market opened on Monday . The stock had previously closed at $86.06, but opened at $78.21. ProShares Ultra Semiconductors shares last traded at $78.91, with a volume of 268,689 shares changing hands.

ProShares Ultra Semiconductors Trading Down 9.5%

The stock’s 50-day moving average price is $86.99 and its 200-day moving average price is $80.78. The company has a market cap of $2.45 billion, a P/E ratio of 40.05 and a beta of 3.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mariner LLC grew its stake in ProShares Ultra Semiconductors by 66.6% in the fourth quarter. Mariner LLC now owns 14,832,743 shares of the company’s stock valued at $778,867,000 after acquiring an additional 5,928,597 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of ProShares Ultra Semiconductors by 10.7% during the second quarter. Integrated Wealth Concepts LLC now owns 663,610 shares of the company’s stock valued at $69,188,000 after acquiring an additional 64,000 shares in the last quarter. Dale Q Rice Investment Management Ltd raised its position in shares of ProShares Ultra Semiconductors by 2.0% during the first quarter. Dale Q Rice Investment Management Ltd now owns 447,279 shares of the company’s stock worth $21,447,000 after purchasing an additional 8,716 shares during the period. Blair William & Co. IL raised its position in shares of ProShares Ultra Semiconductors by 99.3% during the fourth quarter. Blair William & Co. IL now owns 60,282 shares of the company’s stock worth $3,165,000 after purchasing an additional 30,031 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of ProShares Ultra Semiconductors by 3,735,900.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 37,360 shares of the company’s stock worth $1,962,000 after purchasing an additional 37,359 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. It also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.