ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Up – Still a Buy?

ProShares Ultra Semiconductors (NYSEARCA:USD)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $96.10, but opened at $104.15. ProShares Ultra Semiconductors shares last traded at $96.6540, with a volume of 255,001 shares trading hands.

ProShares Ultra Semiconductors Stock Up 2.8%

The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 40.05 and a beta of 3.66. The stock has a fifty day moving average price of $92.05 and a two-hundred day moving average price of $67.54.

Institutional Trading of ProShares Ultra Semiconductors

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in ProShares Ultra Semiconductors by 100.0% in the 4th quarter. Bank of America Corp DE now owns 1,050 shares of the company’s stock valued at $68,000 after purchasing an additional 525 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of ProShares Ultra Semiconductors during the second quarter worth about $311,000. Franklin Resources Inc. purchased a new stake in shares of ProShares Ultra Semiconductors during the second quarter worth about $61,000. Raymond James Financial Inc. acquired a new position in shares of ProShares Ultra Semiconductors in the second quarter valued at approximately $83,000. Finally, Diversify Advisory Services LLC acquired a new position in shares of ProShares Ultra Semiconductors in the third quarter valued at approximately $224,000.

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.