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

ProShares Ultra Semiconductors (NYSEARCA:USD)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $65.32, but opened at $67.37. ProShares Ultra Semiconductors shares last traded at $66.30, with a volume of 151,337 shares traded.

ProShares Ultra Semiconductors Stock Performance

The company has a 50 day simple moving average of $67.64 and a 200 day simple moving average of $64.10.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of USD. Client First Investment Management LLC boosted its stake in ProShares Ultra Semiconductors by 750.4% during the 2nd quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock valued at $4,325,000 after purchasing an additional 27,435 shares in the last quarter. IMC Chicago LLC lifted its position in shares of ProShares Ultra Semiconductors by 120.0% in the third quarter. IMC Chicago LLC now owns 30,468 shares of the company’s stock worth $3,653,000 after buying an additional 16,620 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of ProShares Ultra Semiconductors by 514.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 22,891 shares of the company’s stock worth $3,185,000 after purchasing an additional 19,164 shares during the last quarter. Plotkin Financial Advisors LLC acquired a new position in shares of ProShares Ultra Semiconductors during the 3rd quarter worth about $226,000. Finally, Pure Financial Advisors LLC bought a new position in ProShares Ultra Semiconductors during the second quarter valued at about $239,000.

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.