ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Down to $140.59

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down before the market opened on Tuesday . The stock had previously closed at $140.59, but opened at $136.18. ProShares Ultra Semiconductors shares last traded at $138.87, with a volume of 56,581 shares trading hands.

ProShares Ultra Semiconductors Stock Performance

The stock’s 50 day moving average price is $120.02 and its 200-day moving average price is $92.33.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

A number of hedge funds and other institutional investors have recently modified their holdings of USD. Clarity Capital Partners LLC bought a new position in shares of ProShares Ultra Semiconductors during the fourth quarter valued at approximately $4,089,000. Cambridge Investment Research Advisors Inc. acquired a new stake in ProShares Ultra Semiconductors in the fourth quarter valued at approximately $3,274,000. Hamilton Wealth LLC acquired a new stake in ProShares Ultra Semiconductors in the first quarter valued at approximately $4,399,000. US Asset Management LLC acquired a new stake in ProShares Ultra Semiconductors in the fourth quarter valued at approximately $702,000. Finally, Evanson Asset Management LLC acquired a new stake in ProShares Ultra Semiconductors in the first quarter valued at approximately $767,000.

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.