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

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped up before the market opened on Monday . The stock had previously closed at $88.68, but opened at $95.71. ProShares Ultra Semiconductors shares last traded at $93.4430, with a volume of 331,758 shares.

ProShares Ultra Semiconductors Stock Up 8.2%

The firm has a market capitalization of $2.91 billion, a PE ratio of 40.05 and a beta of 3.66. The business’s fifty day moving average price is $79.75 and its 200 day moving average price is $63.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of USD. Bank of America Corp DE increased its stake in shares of ProShares Ultra Semiconductors by 100.0% during the 4th quarter. Bank of America Corp DE now owns 1,050 shares of the company’s stock valued at $68,000 after acquiring an additional 525 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in ProShares Ultra Semiconductors in the second quarter valued at approximately $311,000. Franklin Resources Inc. purchased a new stake in ProShares Ultra Semiconductors in the second quarter valued at approximately $61,000. Raymond James Financial Inc. purchased a new stake in ProShares Ultra Semiconductors in the second quarter valued at approximately $83,000. Finally, Concentrum Wealth Management purchased a new stake in ProShares Ultra Semiconductors in the third quarter valued at approximately $240,000.

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. It also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.