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

ProShares Ultra Semiconductors (NYSEARCA:USD)’s stock price gapped up before the market opened 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.

ProShares Ultra Semiconductors Trading Down 0.4 %

The stock’s 50-day moving average is $68.13 and its two-hundred day moving average is $64.59.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in ProShares Ultra Semiconductors by 514.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 22,891 shares of the company’s stock worth $3,185,000 after buying an additional 19,164 shares in the last quarter. First National Trust Co purchased a new stake in shares of ProShares Ultra Semiconductors during the second quarter worth $223,000. Client First Investment Management LLC raised its stake in shares of ProShares Ultra Semiconductors by 750.4% in the second quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock valued at $4,325,000 after acquiring an additional 27,435 shares in the last quarter. Scientech Research LLC acquired a new stake in shares of ProShares Ultra Semiconductors in the second quarter valued at $220,000. Finally, Bogart Wealth LLC purchased a new position in ProShares Ultra Semiconductors in the third quarter valued at $120,000.

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.