ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Up – Time to Buy?

Shares of ProShares Ultra Semiconductors (NYSEARCA:USD) gapped up prior to trading on Thursday . The stock had previously closed at $96.10, but opened at $104.15. ProShares Ultra Semiconductors shares last traded at $96.6540, with a volume of 255,001 shares trading hands.

ProShares Ultra Semiconductors Stock Down 8.0%

The business’s fifty day moving average price is $93.22 and its 200 day moving average price is $68.04. The firm has a market capitalization of $2.81 billion, a PE ratio of 40.05 and a beta of 3.66.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of USD. Quantinno Capital Management LP raised its position in ProShares Ultra Semiconductors by 414.2% during the 1st quarter. Quantinno Capital Management LP now owns 21,615 shares of the company’s stock worth $1,036,000 after buying an additional 17,411 shares during the last quarter. Dale Q Rice Investment Management Ltd increased its stake in shares of ProShares Ultra Semiconductors by 2.0% during the first quarter. Dale Q Rice Investment Management Ltd now owns 447,279 shares of the company’s stock worth $21,447,000 after acquiring an additional 8,716 shares during the period. Independent Financial Group LLC acquired a new position in shares of ProShares Ultra Semiconductors during the first quarter worth about $231,000. Diversify Wealth Management LLC purchased a new position in ProShares Ultra Semiconductors during the first quarter worth about $155,000. Finally, Fortitude Advisory Group L.L.C. acquired a new stake in ProShares Ultra Semiconductors in the first quarter valued at about $233,000.

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.