ProShares Ultra Semiconductors (NYSEARCA:USD) Stock Price Down 7.4% – Should You Sell?

ProShares Ultra Semiconductors (NYSEARCA:USD) shares were down 7.4% during mid-day trading on Monday . The company traded as low as $37.00 and last traded at $37.81. Approximately 336,929 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 946,845 shares. The stock had previously closed at $40.83.

ProShares Ultra Semiconductors Stock Down 4.1 %

The firm has a market cap of $695.89 million, a price-to-earnings ratio of 30.08 and a beta of 2.78. The company has a 50-day moving average price of $55.72 and a 200 day moving average price of $62.48.

ProShares Ultra Semiconductors Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th will be issued a $0.0499 dividend. The ex-dividend date of this dividend is Wednesday, March 26th.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dale Q Rice Investment Management Ltd bought a new position in shares of ProShares Ultra Semiconductors in the 4th quarter valued at approximately $28,445,000. Integrated Wealth Concepts LLC lifted its stake in shares of ProShares Ultra Semiconductors by 100.0% in the fourth quarter. Integrated Wealth Concepts LLC now owns 376,652 shares of the company’s stock valued at $24,535,000 after buying an additional 188,326 shares during the period. Tower Research Capital LLC TRC grew its position in ProShares Ultra Semiconductors by 552.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 45,552 shares of the company’s stock worth $2,967,000 after buying an additional 38,574 shares in the last quarter. Client First Investment Management LLC raised its holdings in ProShares Ultra Semiconductors by 58.1% in the 4th quarter. Client First Investment Management LLC now owns 69,012 shares of the company’s stock valued at $4,495,000 after acquiring 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 4th quarter worth approximately $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.