ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Up – Should You Buy?

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price gapped up before the market opened on Tuesday. The stock had previously closed at $66.02, but opened at $69.44. ProShares Ultra Semiconductors shares last traded at $69.9590, with a volume of 325,994 shares changing hands.

ProShares Ultra Semiconductors Stock Up 5.9%

The firm has a market cap of $2.19 billion, a PE ratio of 40.05 and a beta of 3.70. The business has a 50-day moving average price of $86.61 and a two-hundred day moving average price of $78.54.

Institutional Trading of ProShares Ultra Semiconductors

Hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC boosted its holdings in shares of ProShares Ultra Semiconductors by 10.7% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 663,610 shares of the company’s stock valued at $69,188,000 after purchasing an additional 64,000 shares during the last quarter. Dale Q Rice Investment Management Ltd grew its position in shares of ProShares Ultra Semiconductors by 0.3% in the 3rd quarter. Dale Q Rice Investment Management Ltd now owns 459,544 shares of the company’s stock worth $44,245,000 after acquiring an additional 1,230 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of ProShares Ultra Semiconductors by 414.2% in the 1st quarter. Quantinno Capital Management LP now owns 21,615 shares of the company’s stock valued at $1,036,000 after buying an additional 17,411 shares during the period. SBI Securities Co. Ltd. boosted its position in ProShares Ultra Semiconductors by 179.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 15,385 shares of the company’s stock valued at $1,481,000 after purchasing an additional 9,889 shares during the period. Finally, Client First Investment Management LLC acquired a new position in ProShares Ultra Semiconductors during the 2nd quarter valued at about $1,121,000.

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.