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

Shares of ProShares Ultra Semiconductors (NYSEARCA:USD) gapped up prior to trading on Wednesday . The stock had previously closed at $31.84, but opened at $35.23. ProShares Ultra Semiconductors shares last traded at $34.96, with a volume of 300,157 shares traded.

ProShares Ultra Semiconductors Stock Performance

The company has a market cap of $683.80 million, a P/E ratio of 30.07 and a beta of 2.89. The stock has a 50-day simple moving average of $44.28 and a 200 day simple moving average of $59.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its stake in ProShares Ultra Semiconductors by 9.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,096 shares of the company’s stock worth $286,000 after purchasing an additional 610 shares during the period. IMC Chicago LLC acquired a new position in shares of ProShares Ultra Semiconductors in the 1st quarter worth approximately $928,000. Plotkin Financial Advisors LLC lifted its position in shares of ProShares Ultra Semiconductors by 219.4% during the 4th quarter. Plotkin Financial Advisors LLC now owns 6,020 shares of the company’s stock worth $392,000 after buying an additional 4,135 shares during the period. US Asset Management LLC acquired a new stake in ProShares Ultra Semiconductors in the 4th quarter valued at $1,251,000. Finally, Morse Asset Management Inc grew its position in ProShares Ultra Semiconductors by 372.9% in the fourth quarter. Morse Asset Management Inc now owns 9,457 shares of the company’s stock valued at $616,000 after acquiring an additional 7,457 shares during the period.

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.