ProShares Ultra Semiconductors (NYSEARCA:USD) Trading Down 9.9% – Should You Sell?

ProShares Ultra Semiconductors (NYSEARCA:USD) shares fell 9.9% on Monday . The company traded as low as $42.44 and last traded at $41.82. 343,292 shares were traded during trading, a decline of 64% from the average session volume of 958,279 shares. The stock had previously closed at $46.42.

ProShares Ultra Semiconductors Price Performance

The stock has a market capitalization of $749.99 million, a P/E ratio of 47.97 and a beta of 2.72. The company’s 50-day simple moving average is $62.19 and its 200-day simple moving average is $63.44.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Institutional investors and hedge funds have recently modified their holdings of the company. Merit Financial Group LLC acquired a new position in ProShares Ultra Semiconductors during the fourth quarter worth approximately $280,000. Beaton Management Co. Inc. increased its holdings in shares of ProShares Ultra Semiconductors by 100.0% during the 4th quarter. Beaton Management Co. Inc. now owns 12,420 shares of the company’s stock worth $809,000 after acquiring an additional 6,210 shares during the last quarter. Spire Wealth Management raised its stake in ProShares Ultra Semiconductors by 100.1% in the 4th quarter. Spire Wealth Management now owns 3,751 shares of the company’s stock valued at $244,000 after acquiring an additional 1,876 shares during the period. Avaii Wealth Management LLC lifted its holdings in ProShares Ultra Semiconductors by 100.0% during the 4th quarter. Avaii Wealth Management LLC now owns 12,432 shares of the company’s stock valued at $810,000 after purchasing an additional 6,216 shares during the last quarter. Finally, Iron Horse Wealth Management LLC boosted its position in ProShares Ultra Semiconductors by 100.0% during the fourth quarter. Iron Horse Wealth Management LLC now owns 612 shares of the company’s stock worth $40,000 after purchasing an additional 306 shares during the period.

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.