ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Up – Here’s Why

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped up prior to trading on Thursday . The stock had previously closed at $66.70, but opened at $69.15. ProShares Ultra Semiconductors shares last traded at $68.26, with a volume of 289,767 shares trading hands.

ProShares Ultra Semiconductors Stock Down 3.7 %

The business has a 50 day simple moving average of $66.24 and a two-hundred day simple moving average of $62.99.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

A number of institutional investors have recently added to or reduced their stakes in the business. Hamilton Wealth LLC purchased a new position in shares of ProShares Ultra Semiconductors in the 1st quarter worth about $4,399,000. Client First Investment Management LLC raised its position in shares of ProShares Ultra Semiconductors by 750.4% in the 2nd quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock worth $4,325,000 after acquiring an additional 27,435 shares in the last quarter. IMC Chicago LLC raised its position in shares of ProShares Ultra Semiconductors by 120.0% in the 3rd quarter. IMC Chicago LLC now owns 30,468 shares of the company’s stock worth $3,653,000 after acquiring an additional 16,620 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of ProShares Ultra Semiconductors by 514.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 22,891 shares of the company’s stock worth $3,185,000 after acquiring an additional 19,164 shares in the last quarter. Finally, Morse Asset Management Inc bought a new position in shares of ProShares Ultra Semiconductors in the 1st quarter worth approximately $268,000.

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.