ProShares Ultra Semiconductors (NYSEARCA:USD) Trading 5.8% Higher – What’s Next?

ProShares Ultra Semiconductors (NYSEARCA:USD) shares shot up 5.8% during trading on Wednesday . The company traded as high as $89.96 and last traded at $90.6230. 455,170 shares changed hands during trading, a decline of 52% from the average daily volume of 940,667 shares. The stock had previously closed at $85.68.

ProShares Ultra Semiconductors Stock Up 5.1%

The firm has a market capitalization of $2.74 billion, a P/E ratio of 40.05 and a beta of 3.65. The business has a 50-day moving average price of $95.99 and a 200-day moving average price of $70.12.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Federation des caisses Desjardins du Quebec acquired a new position in shares of ProShares Ultra Semiconductors in the 4th quarter worth approximately $32,000. BOKF NA boosted its holdings in shares of ProShares Ultra Semiconductors by 100.0% in the 4th quarter. BOKF NA now owns 720 shares of the company’s stock worth $38,000 after acquiring an additional 360 shares in the last quarter. Whittier Trust Co. grew its position in ProShares Ultra Semiconductors by 100.0% during the 4th quarter. Whittier Trust Co. now owns 960 shares of the company’s stock worth $54,000 after acquiring an additional 480 shares during the last quarter. Franklin Resources Inc. acquired a new position in ProShares Ultra Semiconductors in the second quarter worth $61,000. Finally, Qube Research & Technologies Ltd acquired a new position in ProShares Ultra Semiconductors in the third quarter worth $64,000.

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. It also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.