ProShares Ultra Semiconductors (NYSEARCA:USD) Stock Price Down 6.6% – Should You Sell?

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price were down 6.6% on Thursday . The company traded as low as $52.76 and last traded at $53.4470. Approximately 407,025 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 1,317,105 shares. The stock had previously closed at $57.22.

ProShares Ultra Semiconductors Stock Performance

The company has a 50 day moving average of $53.64 and a two-hundred day moving average of $44.70. The stock has a market capitalization of $1.74 billion, a PE ratio of 40.05 and a beta of 3.25.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in ProShares Ultra Semiconductors in the 1st quarter worth approximately $25,000. Guerra Advisors Inc purchased a new position in shares of ProShares Ultra Semiconductors in the third quarter worth $26,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of ProShares Ultra Semiconductors during the second quarter worth $31,000. Franklin Resources Inc. purchased a new stake in shares of ProShares Ultra Semiconductors during the second quarter valued at $61,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of ProShares Ultra Semiconductors during the third quarter valued at $64,000.

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.