ProShares Ultra Semiconductors (NYSEARCA:USD) dropped 1% on Friday . The company traded as low as $48.45 and last traded at $48.73, approximately 275 shares changed hands during mid-day trading. A decline of 99% from the average daily volume of 37,047 shares. The stock had previously closed at $49.21.

The stock’s 50 day moving average price is $43.29 and its two-hundred day moving average price is $41.97.

A hedge fund recently raised its stake in ProShares Ultra Semiconductors stock. Tower Research Capital LLC TRC lifted its stake in ProShares Ultra Semiconductors (NYSEARCA:USD) by 4,464.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,675 shares of the company’s stock after acquiring an additional 20,222 shares during the quarter. Tower Research Capital LLC TRC owned approximately 1.56% of ProShares Ultra Semiconductors worth $854,000 as of its most recent filing with the Securities and Exchange Commission.

About ProShares Ultra Semiconductors (NYSEARCA:USD)

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.

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