ProShares Ultra Semiconductors (NYSEARCA:USD) Trading Down 3.9% – Here’s What Happened

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price fell 3.9% during mid-day trading on Friday . The stock traded as low as $67.85 and last traded at $68.14. 179,053 shares changed hands during trading, a decline of 81% from the average session volume of 934,423 shares. The stock had previously closed at $70.94.

ProShares Ultra Semiconductors Trading Down 4.8 %

The business’s 50-day simple moving average is $68.31 and its 200 day simple moving average is $64.74.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

Several institutional investors have recently bought and sold shares of the business. Client First Investment Management LLC boosted its holdings 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 buying 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 approximately $223,000. Cambridge Investment Research Advisors Inc. grew its holdings in ProShares Ultra Semiconductors by 514.2% in the second 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 during the last quarter. Bogart Wealth LLC acquired a new position in shares of ProShares Ultra Semiconductors during the third quarter worth $120,000. Finally, Scientech Research LLC purchased a new stake in shares of ProShares Ultra Semiconductors during the 2nd quarter valued at $220,000.

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.