ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Down – Should You Sell?

Shares of ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down before the market opened on Wednesday . The stock had previously closed at $62.61, but opened at $61.28. ProShares Ultra Semiconductors shares last traded at $60.42, with a volume of 67,781 shares traded.

ProShares Ultra Semiconductors Stock Down 2.9 %

The business has a 50 day simple moving average of $66.96 and a 200 day simple moving average of $63.54.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hamilton Wealth LLC purchased a new stake in shares of ProShares Ultra Semiconductors during the first quarter valued at $4,399,000. Pure Financial Advisors LLC purchased a new stake in ProShares Ultra Semiconductors during the 2nd quarter valued at about $239,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of ProShares Ultra Semiconductors by 514.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 22,891 shares of the company’s stock valued at $3,185,000 after purchasing an additional 19,164 shares during the period. First National Trust Co purchased a new position in shares of ProShares Ultra Semiconductors in the second quarter worth about $223,000. Finally, Client First Investment Management LLC lifted its holdings in shares of ProShares Ultra Semiconductors by 750.4% during the second quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock worth $4,325,000 after purchasing an additional 27,435 shares during the period.

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.