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ProShares Ultra SK Hynix ETF (SKHU) tumbled 12% in Friday trading, bringing its cumulative decline to 52% since its July 14 launch, after SK Hynix's second-quarter revenue fell short of expectations.
SKHU is a single-stock leveraged ETF designed to achieve twice the daily return of SK Hynix American Depositary Receipts (ADRs). SKHU suffered a punitive decline as SK Hynix's preliminary Q2 revenue, although significantly up year-over-year, fell short of market expectations, putting pressure on its ADRs. The fund dropped 12% in Friday's trading, with an intraday quote of approximately $13, down from the previous day's closing price of $14.75. Since its listing on July 14, 2026, SKHU has cumulatively fallen 52% from its offering price of $30.83.
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