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

ProShares Ultra Semiconductors (NYSEARCA:USD) shares gapped down prior to trading on Thursday . The stock had previously closed at $48.84, but opened at $45.22. ProShares Ultra Semiconductors shares last traded at $46.48, with a volume of 426,032 shares trading hands.

ProShares Ultra Semiconductors Stock Up 6.1 %

The stock has a market cap of $833.70 million, a PE ratio of 47.97 and a beta of 2.72. The company’s fifty day moving average is $62.19 and its 200 day moving average is $63.46.

Institutional Trading of ProShares Ultra Semiconductors

Large investors have recently bought and sold shares of the company. Merit Financial Group LLC purchased a new stake in ProShares Ultra Semiconductors during the 4th quarter worth approximately $280,000. Beaton Management Co. Inc. increased its stake in shares of ProShares Ultra Semiconductors by 100.0% in the fourth quarter. Beaton Management Co. Inc. now owns 12,420 shares of the company’s stock worth $809,000 after buying an additional 6,210 shares during the last quarter. Spire Wealth Management raised its holdings in ProShares Ultra Semiconductors by 100.1% in the fourth quarter. Spire Wealth Management now owns 3,751 shares of the company’s stock valued at $244,000 after acquiring an additional 1,876 shares in the last quarter. Avaii Wealth Management LLC boosted its stake in ProShares Ultra Semiconductors by 100.0% during the 4th quarter. Avaii Wealth Management LLC now owns 12,432 shares of the company’s stock valued at $810,000 after acquiring an additional 6,216 shares during the last quarter. Finally, Iron Horse Wealth Management LLC grew its holdings in ProShares Ultra Semiconductors by 100.0% during the 4th quarter. Iron Horse Wealth Management LLC now owns 612 shares of the company’s stock worth $40,000 after acquiring an additional 306 shares in 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.