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

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down before the market opened on Thursday . The stock had previously closed at $112.24, but opened at $102.02. ProShares Ultra Semiconductors shares last traded at $99.1150, with a volume of 249,199 shares changing hands.

ProShares Ultra Semiconductors Trading Down 16.8%

The firm has a market cap of $2.69 billion, a P/E ratio of 40.05 and a beta of 3.66. The firm has a 50-day simple moving average of $79.75 and a 200-day simple moving average of $63.05.

Institutional Trading of ProShares Ultra Semiconductors

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in shares of ProShares Ultra Semiconductors by 325.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,844 shares of the company’s stock worth $1,767,000 after purchasing an additional 13,645 shares in the last quarter. Avaii Wealth Management LLC boosted its position in shares of ProShares Ultra Semiconductors by 100.0% in the 4th quarter. Avaii Wealth Management LLC now owns 24,864 shares of the company’s stock worth $1,306,000 after purchasing an additional 12,432 shares in the last quarter. Retirement Planning Co of New England Inc. boosted its position in shares of ProShares Ultra Semiconductors by 89.7% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 50,465 shares of the company’s stock worth $2,650,000 after purchasing an additional 23,865 shares in the last quarter. Chung Wu Investment Group LLC boosted its position in shares of ProShares Ultra Semiconductors by 116.7% in the 4th quarter. Chung Wu Investment Group LLC now owns 18,200 shares of the company’s stock worth $956,000 after purchasing an additional 9,800 shares in the last quarter. Finally, Morse Asset Management Inc boosted its position in shares of ProShares Ultra Semiconductors by 99.3% in the 4th quarter. Morse Asset Management Inc now owns 17,687 shares of the company’s stock worth $929,000 after purchasing an additional 8,812 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.