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

ProShares Ultra Semiconductors (NYSEARCA:USD)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $40.90, but opened at $39.26. ProShares Ultra Semiconductors shares last traded at $40.65, with a volume of 32,559 shares trading hands.

ProShares Ultra Semiconductors Trading Down 1.1 %

The company’s 50 day simple moving average is $54.51 and its 200-day simple moving average is $62.26. The company has a market capitalization of $719.33 million, a price-to-earnings ratio of 30.08 and a beta of 2.78.

ProShares Ultra Semiconductors Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were given a dividend of $0.0499 per share. The ex-dividend date was Wednesday, March 26th.

Institutional Trading of ProShares Ultra Semiconductors

Several large investors have recently added to or reduced their stakes in USD. Dale Q Rice Investment Management Ltd acquired a new position in shares of ProShares Ultra Semiconductors during the fourth quarter worth $28,445,000. Integrated Wealth Concepts LLC raised its position in shares of ProShares Ultra Semiconductors by 100.0% in the 4th quarter. Integrated Wealth Concepts LLC now owns 376,652 shares of the company’s stock valued at $24,535,000 after purchasing an additional 188,326 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of ProShares Ultra Semiconductors by 552.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 45,552 shares of the company’s stock valued at $2,967,000 after buying an additional 38,574 shares during the last quarter. Client First Investment Management LLC grew its position in shares of ProShares Ultra Semiconductors by 58.1% during the fourth quarter. Client First Investment Management LLC now owns 69,012 shares of the company’s stock worth $4,495,000 after buying an additional 25,351 shares in the last quarter. Finally, US Asset Management LLC bought a new stake in shares of ProShares Ultra Semiconductors in the fourth quarter worth $1,251,000.

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.