ProShares Ultra Semiconductors (NYSEARCA:USD) Stock Price Down 4.2% – Here’s Why

ProShares Ultra Semiconductors (NYSEARCA:USD) shares dropped 4.2% on Monday . The company traded as low as $61.90 and last traded at $61.90. Approximately 267,707 shares changed hands during trading, a decline of 72% from the average daily volume of 953,629 shares. The stock had previously closed at $64.61.

ProShares Ultra Semiconductors Stock Performance

The stock’s 50 day moving average price is $65.36 and its two-hundred day moving average price is $62.76.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

A number of hedge funds have recently made changes to their positions in USD. Hamilton Wealth LLC acquired a new position in shares of ProShares Ultra Semiconductors during the 1st quarter valued at $4,399,000. Client First Investment Management LLC lifted its holdings in shares of ProShares Ultra Semiconductors by 750.4% during the 2nd quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock valued at $4,325,000 after acquiring an additional 27,435 shares in the last quarter. IMC Chicago LLC lifted its holdings in shares of ProShares Ultra Semiconductors by 120.0% during the 3rd quarter. IMC Chicago LLC now owns 30,468 shares of the company’s stock valued at $3,653,000 after acquiring an additional 16,620 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of ProShares Ultra Semiconductors by 514.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 22,891 shares of the company’s stock valued at $3,185,000 after acquiring an additional 19,164 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new position in shares of ProShares Ultra Semiconductors during the 1st quarter valued at $268,000.

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.