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

Shares of ProShares Ultra Semiconductors (NYSEARCA:USD) gapped up before the market opened on Monday. The stock had previously closed at $76.96, but opened at $81.42. ProShares Ultra Semiconductors shares last traded at $79.2970, with a volume of 153,526 shares trading hands.

ProShares Ultra Semiconductors Stock Performance

The firm has a market capitalization of $2.44 billion, a PE ratio of 40.05 and a beta of 3.70. The business’s 50 day moving average is $89.14 and its two-hundred day moving average is $88.17.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

A number of large investors have recently made changes to their positions in USD. Integrated Wealth Concepts LLC grew its holdings in ProShares Ultra Semiconductors by 10.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 663,610 shares of the company’s stock valued at $69,188,000 after buying an additional 64,000 shares in the last quarter. Dale Q Rice Investment Management Ltd lifted its holdings in shares of ProShares Ultra Semiconductors by 0.3% in the third quarter. Dale Q Rice Investment Management Ltd now owns 459,544 shares of the company’s stock worth $44,245,000 after buying an additional 1,230 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of ProShares Ultra Semiconductors by 414.2% in the first quarter. Quantinno Capital Management LP now owns 21,615 shares of the company’s stock valued at $1,036,000 after acquiring an additional 17,411 shares during the period. Client First Investment Management LLC bought a new stake in ProShares Ultra Semiconductors during the 2nd quarter worth approximately $1,121,000. Finally, Farther Finance Advisors LLC increased its holdings in ProShares Ultra Semiconductors by 4.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,404 shares of the company’s stock worth $1,002,000 after acquiring an additional 456 shares during the period.

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.