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

ProShares Ultra Semiconductors (NYSEARCA:USD) shares gapped down prior to trading on Wednesday . The stock had previously closed at $49.20, but opened at $48.13. ProShares Ultra Semiconductors shares last traded at $45.75, with a volume of 150,584 shares.

ProShares Ultra Semiconductors Stock Performance

The firm has a market capitalization of $766.96 million, a P/E ratio of 34.10 and a beta of 2.78. The stock has a 50 day moving average of $56.30 and a 200-day moving average of $62.37.

ProShares Ultra Semiconductors Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th will be given a $0.0499 dividend. The ex-dividend date is Wednesday, March 26th.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Several institutional investors have recently made changes to their positions in the stock. Plotkin Financial Advisors LLC grew its holdings in ProShares Ultra Semiconductors by 219.4% during the 4th quarter. Plotkin Financial Advisors LLC now owns 6,020 shares of the company’s stock valued at $392,000 after buying an additional 4,135 shares in the last quarter. US Asset Management LLC bought a new position in shares of ProShares Ultra Semiconductors in the fourth quarter valued at approximately $1,251,000. Morse Asset Management Inc grew its stake in ProShares Ultra Semiconductors by 372.9% during the fourth quarter. Morse Asset Management Inc now owns 9,457 shares of the company’s stock valued at $616,000 after acquiring an additional 7,457 shares in the last quarter. Bank of America Corp DE increased its holdings in ProShares Ultra Semiconductors by 100.0% during the 4th quarter. Bank of America Corp DE now owns 1,050 shares of the company’s stock worth $68,000 after acquiring an additional 525 shares during the period. Finally, Two Sigma Securities LLC purchased a new stake in ProShares Ultra Semiconductors in the 4th quarter worth approximately $219,000.

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.