ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Down 6% – Time to Sell?

ProShares Ultra Semiconductors (NYSEARCA:USD) shares traded down 6% during mid-day trading on Wednesday . The company traded as low as $133.27 and last traded at $133.32. 72,845 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 481,178 shares. The stock had previously closed at $141.81.

ProShares Ultra Semiconductors Stock Down 9.0 %

The stock’s fifty day moving average price is $121.48 and its 200-day moving average price is $119.54.

ProShares Ultra Semiconductors’s stock is scheduled to split on the morning of Wednesday, November 6th. The 2-1 split was announced on Monday, October 28th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, November 5th.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Large investors have recently added to or reduced their stakes in the business. Hamilton Wealth LLC acquired a new stake in ProShares Ultra Semiconductors in the 1st quarter valued at about $4,399,000. Client First Investment Management LLC boosted its stake 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 worth $4,325,000 after purchasing an additional 27,435 shares during the last quarter. First National Trust Co acquired a new stake in shares of ProShares Ultra Semiconductors during the 2nd quarter worth about $223,000. Cambridge Investment Research Advisors Inc. boosted its stake 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 worth $3,185,000 after purchasing an additional 19,164 shares during the last quarter. Finally, Pure Financial Advisors LLC acquired a new stake in shares of ProShares Ultra Semiconductors during the 2nd quarter worth about $239,000.

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.