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

ProShares Ultra Semiconductors (NYSEARCA:USD)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $51.52, but opened at $49.13. ProShares Ultra Semiconductors shares last traded at $47.3270, with a volume of 269,629 shares traded.

ProShares Ultra Semiconductors Stock Performance

The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 40.05 and a beta of 3.25. The company has a fifty day simple moving average of $52.36 and a 200 day simple moving average of $42.79.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

Several institutional investors have recently added to or reduced their stakes in USD. Headlands Technologies LLC acquired a new stake in shares of ProShares Ultra Semiconductors during the 1st quarter worth approximately $25,000. Guerra Advisors Inc acquired a new stake in ProShares Ultra Semiconductors in the third quarter worth $26,000. Quintet Private Bank Europe S.A. bought a new stake in ProShares Ultra Semiconductors in the second quarter valued at $31,000. Franklin Resources Inc. bought a new stake in ProShares Ultra Semiconductors in the second quarter valued at $61,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of ProShares Ultra Semiconductors during the third quarter valued at about $64,000.

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.