🔴 ProShares Ultra Semiconductors is trading 6.15% down today as semiconductor weakness and fading AI leadership pressure tech shares

ProShares Ultra Semiconductors is trading at $88.06 (-6.15%) as semiconductor-led weakness and a Nasdaq retreat pressure the ETF.

• The fund is facing pressure from negative AI sentiment and a softer outlook from Broadcom, alongside weakness in chip leaders like NVIDIA.
• Broader risk-off sentiment is building after May CPI data reinforced expectations for steady Fed rates, while geopolitical tensions weigh on growth stocks.
• Tech shares reversed sharply after early gains on June 9, signaling a shift in momentum for the sector as AI leadership fades.