ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Up – Time to Buy?

ProShares Ultra Semiconductors (NYSEARCA:USD) shares gapped up before the market opened on Tuesday . The stock had previously closed at $83.24, but opened at $89.03. ProShares Ultra Semiconductors shares last traded at $87.1520, with a volume of 144,324 shares traded.

ProShares Ultra Semiconductors Stock Performance

The firm has a market cap of $2.75 billion, a PE ratio of 40.05 and a beta of 3.65. The stock has a 50 day simple moving average of $96.80 and a two-hundred day simple moving average of $72.49.

Institutional Trading of ProShares Ultra Semiconductors

Several hedge funds and other institutional investors have recently bought and sold shares of USD. Client First Investment Management LLC acquired a new position in ProShares Ultra Semiconductors in the second quarter valued at approximately $1,121,000. Quantinno Capital Management LP boosted its position in ProShares Ultra Semiconductors by 414.2% in the 1st quarter. Quantinno Capital Management LP now owns 21,615 shares of the company’s stock worth $1,036,000 after purchasing an additional 17,411 shares in the last quarter. Dale Q Rice Investment Management Ltd grew its stake in shares of 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 worth $21,447,000 after purchasing an additional 8,716 shares during the period. Independent Financial Group LLC acquired a new stake in shares of ProShares Ultra Semiconductors during the 1st quarter worth approximately $231,000. Finally, Diversify Wealth Management LLC acquired a new stake in shares of ProShares Ultra Semiconductors during the 1st quarter worth approximately $155,000.

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.