ProShares Ultra Semiconductors (NYSEARCA:USD) Stock Price Down 8.9% – Here’s What Happened

ProShares Ultra Semiconductors (NYSEARCA:USD) shares fell 8.9% on Tuesday . The company traded as low as $125.63 and last traded at $129.33. 287,710 shares changed hands during trading, a decline of 40% from the average session volume of 482,286 shares. The stock had previously closed at $141.95.

ProShares Ultra Semiconductors Trading Up 1.8 %

The company has a 50-day moving average price of $117.16 and a 200-day moving average price of $116.55.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Iron Horse Wealth Management LLC bought a new stake in ProShares Ultra Semiconductors in the first quarter worth approximately $29,000. Scientech Research LLC acquired a new stake in shares of ProShares Ultra Semiconductors in the 2nd quarter valued at $220,000. First National Trust Co bought a new stake in ProShares Ultra Semiconductors in the second quarter worth $223,000. Pure Financial Advisors LLC acquired a new position in ProShares Ultra Semiconductors during the second quarter worth $239,000. Finally, Morse Asset Management Inc bought a new position in shares of ProShares Ultra Semiconductors in the 1st quarter valued at approximately $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.