Shares of ProShares Ultra Semiconductors (NYSEARCA:USD – Get Free Report) dropped 5.9% during trading on Wednesday . The stock traded as low as $85.86 and last traded at $86.50. Approximately 178,654 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 361,493 shares. The stock had previously closed at $91.88.
ProShares Ultra Semiconductors Price Performance
The company’s 50-day simple moving average is $90.95 and its 200 day simple moving average is $63.62.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. acquired a new stake in ProShares Ultra Semiconductors in the first quarter valued at approximately $71,000. UBS Group AG acquired a new stake in shares of ProShares Ultra Semiconductors in the 3rd quarter valued at $150,000. JPMorgan Chase & Co. lifted its position in shares of ProShares Ultra Semiconductors by 9.2% during the 1st quarter. JPMorgan Chase & Co. now owns 8,645 shares of the company’s stock worth $250,000 after purchasing an additional 729 shares during the last quarter. Advisory Alpha LLC acquired a new position in shares of ProShares Ultra Semiconductors during the fourth quarter worth $278,000. Finally, GTS Securities LLC purchased a new position in ProShares Ultra Semiconductors in the third quarter valued at $312,000.
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.
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