ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Down 3.9% – Time to Sell?

ProShares Ultra Semiconductors (NYSEARCA:USD) shares traded down 3.9% during trading on Friday . The stock traded as low as $67.85 and last traded at $68.14. 179,053 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 934,423 shares. The stock had previously closed at $70.94.

ProShares Ultra Semiconductors Trading Down 3.1 %

The stock has a 50-day moving average of $68.32 and a 200 day moving average of $64.73.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Hedge funds have recently added to or reduced their stakes in the stock. Client First Investment Management LLC boosted its position in ProShares Ultra Semiconductors by 750.4% in the 2nd quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock valued at $4,325,000 after buying an additional 27,435 shares during the last quarter. IMC Chicago LLC lifted its stake in shares of ProShares Ultra Semiconductors by 120.0% during the third 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 during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in ProShares Ultra Semiconductors by 514.2% in the second 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 during the last quarter. Plotkin Financial Advisors LLC acquired a new stake in ProShares Ultra Semiconductors in the third quarter worth about $226,000. Finally, First National Trust Co bought a new stake in ProShares Ultra Semiconductors during the 2nd quarter worth about $223,000.

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.