ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Down – Time to Sell?

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down before the market opened on Wednesday . The stock had previously closed at $62.61, but opened at $61.28. ProShares Ultra Semiconductors shares last traded at $60.42, with a volume of 67,781 shares traded.

ProShares Ultra Semiconductors Price Performance

The company’s 50 day moving average is $66.73 and its 200 day moving average is $63.58.

Institutional Trading of ProShares Ultra Semiconductors

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bogart Wealth LLC bought a new position in shares of ProShares Ultra Semiconductors in the third quarter worth approximately $120,000. Scientech Research LLC bought a new position in shares of ProShares Ultra Semiconductors during the second quarter valued at $220,000. First National Trust Co bought a new stake in ProShares Ultra Semiconductors in the 2nd quarter worth about $223,000. Pure Financial Advisors LLC bought a new stake in ProShares Ultra Semiconductors in the 2nd quarter worth about $239,000. Finally, Plotkin Financial Advisors LLC purchased a new position in ProShares Ultra Semiconductors in the third quarter worth about $226,000.

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.