ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Down – Time to Sell?

Shares of ProShares Ultra Semiconductors (NYSEARCA:USD) gapped down prior to trading on Friday . The stock had previously closed at $69.37, but opened at $67.19. ProShares Ultra Semiconductors shares last traded at $67.22, with a volume of 218,419 shares.

ProShares Ultra Semiconductors Price Performance

The firm’s fifty day moving average is $65.01 and its two-hundred day moving average is $62.33.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Bogart Wealth LLC acquired a new position in ProShares Ultra Semiconductors in the third quarter worth approximately $120,000. Scientech Research LLC acquired a new stake in shares of ProShares Ultra Semiconductors during the second quarter worth $220,000. First National Trust Co purchased a new stake in shares of ProShares Ultra Semiconductors during the second quarter valued at $223,000. Pure Financial Advisors LLC acquired a new position in shares of ProShares Ultra Semiconductors in the 2nd quarter valued at $239,000. Finally, Plotkin Financial Advisors LLC acquired a new position in shares of ProShares Ultra Semiconductors in the 3rd quarter valued at $226,000.

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.