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

ProShares Ultra Semiconductors (NYSEARCA:USD) shares gapped up prior to trading on Thursday . The stock had previously closed at $67.07, but opened at $69.59. ProShares Ultra Semiconductors shares last traded at $68.26, with a volume of 101,540 shares changing hands.

ProShares Ultra Semiconductors Stock Performance

The business has a 50-day simple moving average of $66.63 and a two-hundred day simple moving average of $64.15.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

A number of institutional investors and hedge funds have recently made changes to their positions in USD. Dale Q Rice Investment Management Ltd bought a new stake in shares of ProShares Ultra Semiconductors in the 4th quarter valued at about $28,445,000. Client First Investment Management LLC raised its stake in ProShares Ultra Semiconductors by 58.1% in the fourth quarter. Client First Investment Management LLC now owns 69,012 shares of the company’s stock valued at $4,495,000 after buying an additional 25,351 shares during the period. IMC Chicago LLC lifted its position in shares of ProShares Ultra Semiconductors by 120.0% in the third quarter. IMC Chicago LLC now owns 30,468 shares of the company’s stock valued at $3,653,000 after buying an additional 16,620 shares during the last quarter. Advisory Alpha LLC boosted its stake in shares of ProShares Ultra Semiconductors by 100.2% during the 4th quarter. Advisory Alpha LLC now owns 10,224 shares of the company’s stock worth $666,000 after acquiring an additional 5,117 shares during the period. Finally, Merit Financial Group LLC acquired a new position in shares of ProShares Ultra Semiconductors during the 4th quarter worth approximately $280,000.

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.