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

ProShares Ultra Semiconductors (NYSEARCA:USD)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $66.94, but opened at $64.92. ProShares Ultra Semiconductors shares last traded at $65.37, with a volume of 126,164 shares changing hands.

ProShares Ultra Semiconductors Stock Performance

The firm’s 50 day simple moving average is $67.97 and its 200-day simple moving average is $64.44.

Institutional Trading of ProShares Ultra Semiconductors

Several large investors have recently added to or reduced their stakes in the company. Plotkin Financial Advisors LLC acquired a new stake in ProShares Ultra Semiconductors during the 3rd quarter valued at $226,000. IMC Chicago LLC increased its stake 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 worth $3,653,000 after acquiring an additional 16,620 shares during the last quarter. Bogart Wealth LLC acquired a new position in shares of ProShares Ultra Semiconductors in the third quarter worth $120,000. Scientech Research LLC acquired a new position in shares of ProShares Ultra Semiconductors in the second quarter worth $220,000. Finally, Client First Investment Management LLC increased its stake in shares of ProShares Ultra Semiconductors by 750.4% in the second quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock worth $4,325,000 after acquiring an additional 27,435 shares during the last quarter.

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.