ProShares Ultra Semiconductors (NYSEARCA:USD) experienced a significant drop in its share price prior to the trading session on Friday. The stock, which had closed at $55.72, opened at $53.92, reflecting a notable gap down. As of the last trade, shares were priced at $52.06, with a trading volume reaching 311,901 shares.
The market capitalization of ProShares Ultra Semiconductors stands at $1.56 billion, with a price-to-earnings (PE) ratio of 40.05 and a beta of 3.25, indicating higher volatility relative to the market. The stock”s fifty-day moving average is currently at $53.69, while the 200-day moving average is positioned at $45.07.
Recent activities from institutional investors reveal a growing interest in ProShares Ultra Semiconductors. For instance, Wealth Enhancement Advisory Services LLC acquired a new position during the second quarter, valued at approximately $209,000. Similarly, Prime Capital Investment Advisors LLC also initiated a new stake, amounting to about $369,000.
Client First Investment Management LLC made a significant move by purchasing a new position during the same quarter, estimated to be worth $8,680,000. Additionally, First National Trust Co. entered the market with a new position valued at $237,000. Notably, Bogart Wealth LLC increased its holdings by an impressive 450.0% in the second quarter, now owning 1,100 shares worth $81,000 after acquiring an additional 900 shares.
For context, ProShares Ultra Semiconductors aims to achieve daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Semiconductor Index. The Fund is committed to investing at least 80% of its net assets in the equity securities of the Index and/or financial instruments with similar economic characteristics.
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