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

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $65.81, but opened at $67.92. ProShares Ultra Semiconductors shares last traded at $68.42, with a volume of 277,934 shares trading hands.

ProShares Ultra Semiconductors Trading Up 4.0 %

The business has a fifty day simple moving average of $68.37 and a 200 day simple moving average of $64.63.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

Several institutional investors have recently modified their holdings of the company. Client First Investment Management LLC raised its position in ProShares Ultra Semiconductors by 750.4% during the second quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock valued at $4,325,000 after buying an additional 27,435 shares during the period. First National Trust Co bought a new stake in ProShares Ultra Semiconductors during the second quarter valued at about $223,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of ProShares Ultra Semiconductors by 514.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 22,891 shares of the company’s stock worth $3,185,000 after purchasing an additional 19,164 shares during the period. Bogart Wealth LLC acquired a new position in shares of ProShares Ultra Semiconductors during the 3rd quarter worth about $120,000. Finally, Scientech Research LLC acquired a new stake in ProShares Ultra Semiconductors in the 2nd quarter valued at approximately $220,000.

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.