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

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $89.20, but opened at $95.52. ProShares Ultra Semiconductors shares last traded at $92.05, with a volume of 161,080 shares.

ProShares Ultra Semiconductors Stock Performance

The stock’s fifty day moving average price is $97.06 and its 200-day moving average price is $71.30. The company has a market capitalization of $2.90 billion, a P/E ratio of 40.05 and a beta of 3.65.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Federation des caisses Desjardins du Quebec acquired a new position in shares of ProShares Ultra Semiconductors during the 4th quarter worth approximately $32,000. BOKF NA lifted its holdings in ProShares Ultra Semiconductors by 100.0% during the 4th quarter. BOKF NA now owns 720 shares of the company’s stock valued at $38,000 after purchasing an additional 360 shares during the last quarter. Whittier Trust Co. lifted its holdings in ProShares Ultra Semiconductors by 100.0% during the 4th quarter. Whittier Trust Co. now owns 960 shares of the company’s stock valued at $54,000 after purchasing an additional 480 shares during the last quarter. Franklin Resources Inc. acquired a new stake in ProShares Ultra Semiconductors during the 2nd quarter valued at $61,000. Finally, Qube Research & Technologies Ltd bought a new position in ProShares Ultra Semiconductors during the third quarter worth $64,000.

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