ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Down – Here’s Why

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price gapped down prior to trading on Thursday. The stock had previously closed at $82.01, but opened at $76.53. ProShares Ultra Semiconductors shares last traded at $76.9560, with a volume of 170,834 shares traded.

ProShares Ultra Semiconductors Stock Up 0.4%

The company has a market capitalization of $2.28 billion, a P/E ratio of 40.05 and a beta of 3.70. The company’s 50-day moving average is $88.03 and its two-hundred day moving average is $88.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. lifted its stake in ProShares Ultra Semiconductors by 179.9% in the third quarter. SBI Securities Co. Ltd. now owns 15,385 shares of the company’s stock worth $1,481,000 after acquiring an additional 9,889 shares during the period. Harbor Group Inc. purchased a new position in shares of ProShares Ultra Semiconductors in the 3rd quarter valued at approximately $770,000. Dale Q Rice Investment Management Ltd lifted its position in ProShares Ultra Semiconductors by 0.3% during the third quarter. Dale Q Rice Investment Management Ltd now owns 459,544 shares of the company’s stock valued at $44,245,000 after buying an additional 1,230 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of ProShares Ultra Semiconductors by 4.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,404 shares of the company’s stock valued at $1,002,000 after buying an additional 456 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of ProShares Ultra Semiconductors in the 2nd quarter worth about $223,000.

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.