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

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down prior to trading on Tuesday . The stock had previously closed at $68.28, but opened at $65.41. ProShares Ultra Semiconductors shares last traded at $64.52, with a volume of 176,909 shares traded.

ProShares Ultra Semiconductors Price Performance

The firm has a 50-day moving average of $68.39 and a 200-day moving average of $64.58.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

A number of hedge funds have recently added to or reduced their stakes in the stock. Client First Investment Management LLC raised its holdings in ProShares Ultra Semiconductors by 750.4% in the 2nd 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. IMC Chicago LLC lifted its position in shares of ProShares Ultra Semiconductors by 120.0% during the 3rd quarter. IMC Chicago LLC now owns 30,468 shares of the company’s stock valued at $3,653,000 after buying an additional 16,620 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake 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 valued at $3,185,000 after acquiring an additional 19,164 shares during the period. Plotkin Financial Advisors LLC purchased a new stake in ProShares Ultra Semiconductors in the 3rd quarter worth approximately $226,000. Finally, First National Trust Co bought a new stake in ProShares Ultra Semiconductors during the 2nd quarter worth approximately $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.