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

Shares of ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down prior to trading on Friday . The stock had previously closed at $69.37, but opened at $67.19. ProShares Ultra Semiconductors shares last traded at $67.22, with a volume of 218,419 shares changing hands.

ProShares Ultra Semiconductors Trading Down 6.5 %

The firm’s fifty day simple moving average is $64.20 and its 200 day simple moving average is $62.14.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

Several institutional investors have recently bought and sold shares of the company. Hamilton Wealth LLC purchased a new position in shares of ProShares Ultra Semiconductors during the 1st quarter worth approximately $4,399,000. Client First Investment Management LLC raised its position in ProShares Ultra Semiconductors by 750.4% in the second quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock worth $4,325,000 after acquiring an additional 27,435 shares in the last quarter. First National Trust Co acquired a new stake in ProShares Ultra Semiconductors in the second quarter valued at $223,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of ProShares Ultra Semiconductors by 514.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 22,891 shares of the company’s stock worth $3,185,000 after purchasing an additional 19,164 shares in the last quarter. Finally, Pure Financial Advisors LLC acquired a new position in shares of ProShares Ultra Semiconductors during the 2nd quarter worth $239,000.

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.