ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Down 5.5% – What’s Next?

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price dropped 5.5% during trading on Monday . The company traded as low as $69.55 and last traded at $69.77. Approximately 390,784 shares traded hands during trading, a decline of 59% from the average daily volume of 957,168 shares. The stock had previously closed at $73.81.

ProShares Ultra Semiconductors Stock Performance

The stock has a 50 day moving average price of $63.10 and a two-hundred day moving average price of $61.70.

Institutional Trading of ProShares Ultra Semiconductors

Several hedge funds have recently added to or reduced their stakes in USD. Hamilton Wealth LLC bought a new position in shares of ProShares Ultra Semiconductors in the 1st quarter worth approximately $4,399,000. Client First Investment Management LLC increased its position in shares of ProShares Ultra Semiconductors by 750.4% during the second quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock valued at $4,325,000 after acquiring an additional 27,435 shares in the last quarter. IMC Chicago LLC grew 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 period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of 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 acquiring an additional 19,164 shares during the period. Finally, Morse Asset Management Inc bought a new position in shares of ProShares Ultra Semiconductors in the 1st quarter worth approximately $268,000.

ProShares Ultra Semiconductors Company Profile

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.