ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Up 8.2% – Still a Buy?

ProShares Ultra Semiconductors (NYSEARCA:USD) shares shot up 8.2% during mid-day trading on Monday . The stock traded as high as $78.09 and last traded at $77.80. 476,291 shares traded hands during trading, a decline of 32% from the average session volume of 700,636 shares. The stock had previously closed at $71.90.

ProShares Ultra Semiconductors Price Performance

The stock has a 50-day moving average of $68.15 and a 200 day moving average of $64.39.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

Several hedge funds have recently bought and sold shares of the company. Bogart Wealth LLC acquired a new stake in shares of ProShares Ultra Semiconductors during the 3rd quarter worth approximately $120,000. Scientech Research LLC bought a new stake in ProShares Ultra Semiconductors during the second quarter worth $220,000. Plotkin Financial Advisors LLC bought a new position in shares of ProShares Ultra Semiconductors in the 3rd quarter valued at $226,000. IMC Chicago LLC raised its stake in ProShares Ultra Semiconductors by 120.0% during the third 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. Finally, Client First Investment Management LLC raised its holdings in 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 valued at $4,325,000 after buying an additional 27,435 shares during the last quarter.

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.