ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Up 8.4% – Time to Buy?

ProShares Ultra Semiconductors (NYSEARCA:USD) shares shot up 8.4% on Friday . The company traded as high as $79.19 and last traded at $80.2340. 380,081 shares traded hands during trading, a decline of 55% from the average session volume of 837,434 shares. The stock had previously closed at $74.02.

ProShares Ultra Semiconductors Stock Up 9.1%

The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 40.05 and a beta of 3.36. The business’s 50-day simple moving average is $56.31 and its two-hundred day simple moving average is $54.90.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

A number of institutional investors have recently made changes to their positions in the stock. Mariner LLC lifted its stake in ProShares Ultra Semiconductors by 66.6% in the fourth quarter. Mariner LLC now owns 14,832,743 shares of the company’s stock worth $778,867,000 after acquiring an additional 5,928,597 shares during the last quarter. Dale Q Rice Investment Management Ltd increased its stake in ProShares Ultra Semiconductors by 90.0% in the 4th quarter. Dale Q Rice Investment Management Ltd now owns 438,563 shares of the company’s stock valued at $23,009,000 after buying an additional 207,715 shares during the period. IMC Chicago LLC increased its stake in ProShares Ultra Semiconductors by 21.1% in the 4th quarter. IMC Chicago LLC now owns 63,823 shares of the company’s stock valued at $3,351,000 after buying an additional 11,116 shares during the period. Blair William & Co. IL grew its stake in shares of ProShares Ultra Semiconductors by 99.3% during the 4th quarter. Blair William & Co. IL now owns 60,282 shares of the company’s stock worth $3,165,000 after purchasing an additional 30,031 shares during the period. Finally, Retirement Planning Co of New England Inc. grew its stake in shares of ProShares Ultra Semiconductors by 89.7% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 50,465 shares of the company’s stock worth $2,650,000 after purchasing an additional 23,865 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. It also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.