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

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down prior to trading 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 traded.

ProShares Ultra Semiconductors Trading Down 7.7%

The stock has a 50 day moving average of $95.28 and a 200-day moving average of $69.28. The company has a market capitalization of $2.64 billion, a P/E ratio of 40.05 and a beta of 3.65.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

Several large investors have recently added to or reduced their stakes in the company. Federation des caisses Desjardins du Quebec purchased a new stake in shares of ProShares Ultra Semiconductors in the fourth quarter worth $32,000. BOKF NA lifted its stake in shares of ProShares Ultra Semiconductors by 100.0% during the 4th quarter. BOKF NA now owns 720 shares of the company’s stock valued at $38,000 after buying an additional 360 shares in the last quarter. Whittier Trust Co. boosted its holdings in ProShares Ultra Semiconductors by 100.0% in the 4th 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 in the 2nd quarter worth $61,000. Finally, Qube Research & Technologies Ltd purchased a new stake in ProShares Ultra Semiconductors in the 3rd quarter worth $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.