ProShares Ultra Semiconductors (NYSEARCA:USD) Stock Price Down 8.4% – Here’s Why

ProShares Ultra Semiconductors (NYSEARCA:USD) dropped 8.4% during mid-day trading on Monday . The company traded as low as $80.50 and last traded at $78.5060. Approximately 215,456 shares changed hands during trading, a decline of 76% from the average session volume of 916,599 shares. The stock had previously closed at $85.74.

ProShares Ultra Semiconductors Price Performance

The company’s 50 day simple moving average is $95.52 and its 200 day simple moving average is $73.82. The stock has a market cap of $2.33 billion, a P/E ratio of 40.05 and a beta of 3.65.

Institutional Trading of ProShares Ultra Semiconductors

A number of large investors have recently made changes to their positions in USD. Client First Investment Management LLC bought a new position in ProShares Ultra Semiconductors during the second quarter worth about $1,121,000. Quantinno Capital Management LP increased its holdings in shares of ProShares Ultra Semiconductors by 414.2% in the first quarter. Quantinno Capital Management LP now owns 21,615 shares of the company’s stock worth $1,036,000 after acquiring an additional 17,411 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. Independent Financial Group LLC bought a new position in shares of ProShares Ultra Semiconductors during the 1st quarter valued at about $231,000. Finally, Diversify Wealth Management LLC bought a new position in shares of ProShares Ultra Semiconductors during the 1st quarter valued at about $155,000.

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. It also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.