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

Shares of ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down prior to trading on Monday . The stock had previously closed at $65.39, but opened at $61.37. ProShares Ultra Semiconductors shares last traded at $63.10, with a volume of 255,796 shares.

ProShares Ultra Semiconductors Stock Down 3.8 %

The stock has a fifty day moving average price of $68.48 and a 200-day moving average price of $64.20.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in USD. Client First Investment Management LLC grew its position in shares of 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 valued at $4,325,000 after purchasing an additional 27,435 shares during the period. Bogart Wealth LLC acquired a new position in shares of ProShares Ultra Semiconductors during the 3rd quarter worth about $120,000. Scientech Research LLC bought a new stake in ProShares Ultra Semiconductors in the second quarter valued at approximately $220,000. Plotkin Financial Advisors LLC bought a new stake in ProShares Ultra Semiconductors in the 3rd quarter valued at $226,000. Finally, IMC Chicago LLC raised its position in shares of ProShares Ultra Semiconductors by 120.0% in the third quarter. IMC Chicago LLC now owns 30,468 shares of the company’s stock valued at $3,653,000 after purchasing an additional 16,620 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.