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

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped up before the market opened on Wednesday. The stock had previously closed at $54.66, but opened at $59.25. ProShares Ultra Semiconductors shares last traded at $59.5070, with a volume of 339,820 shares.

ProShares Ultra Semiconductors Stock Performance

The firm has a market capitalization of $1.90 billion, a P/E ratio of 40.05 and a beta of 3.79. The business has a fifty day moving average of $82.69 and a 200-day moving average of $78.65.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC grew its stake in shares of ProShares Ultra Semiconductors by 10.7% in the second quarter. Integrated Wealth Concepts LLC now owns 663,610 shares of the company’s stock worth $69,188,000 after purchasing an additional 64,000 shares in the last quarter. Dale Q Rice Investment Management Ltd raised its stake in shares of ProShares Ultra Semiconductors by 0.3% during the third quarter. Dale Q Rice Investment Management Ltd now owns 459,544 shares of the company’s stock valued at $44,245,000 after purchasing an additional 1,230 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in ProShares Ultra Semiconductors by 414.2% in the first quarter. Quantinno Capital Management LP now owns 21,615 shares of the company’s stock worth $1,036,000 after purchasing an additional 17,411 shares during the period. SBI Securities Co. Ltd. lifted its holdings in ProShares Ultra Semiconductors by 179.9% in the third quarter. SBI Securities Co. Ltd. now owns 15,385 shares of the company’s stock worth $1,481,000 after purchasing an additional 9,889 shares during the period. Finally, Client First Investment Management LLC acquired a new stake in ProShares Ultra Semiconductors in the second quarter worth about $1,121,000.

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