ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Up – What’s Next?

ProShares Ultra Semiconductors (NYSEARCA:USD)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $81.21, but opened at $87.20. ProShares Ultra Semiconductors shares last traded at $86.7140, with a volume of 218,901 shares traded.

ProShares Ultra Semiconductors Stock Performance

The company has a market capitalization of $2.76 billion, a PE ratio of 40.05 and a beta of 3.69. The company’s 50-day simple moving average is $90.01 and its 200-day simple moving average is $78.31.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Hedge funds have recently made changes to their positions in the business. Nwam LLC purchased a new position in shares of ProShares Ultra Semiconductors during the second quarter worth about $209,000. Client First Investment Management LLC purchased a new stake in ProShares Ultra Semiconductors during the 2nd quarter valued at approximately $1,121,000. Quantinno Capital Management LP raised its stake in ProShares Ultra Semiconductors by 414.2% during the 1st quarter. Quantinno Capital Management LP now owns 21,615 shares of the company’s stock valued at $1,036,000 after acquiring an additional 17,411 shares during the last quarter. Dale Q Rice Investment Management Ltd raised its stake in ProShares Ultra Semiconductors by 2.0% during the 1st quarter. Dale Q Rice Investment Management Ltd now owns 447,279 shares of the company’s stock valued at $21,447,000 after acquiring an additional 8,716 shares during the last quarter. Finally, Independent Financial Group LLC acquired a new stake in ProShares Ultra Semiconductors during the 1st quarter worth approximately $231,000.

ProShares Ultra Semiconductors Company Profile

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.