ProShares Ultra Semiconductors (NYSEARCA:USD) Hits New 52-Week High – Time to Buy?

ProShares Ultra Semiconductors (NYSEARCA:USD)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $71.40 and last traded at $71.2340, with a volume of 110924 shares changing hands. The stock had previously closed at $70.81.

ProShares Ultra Semiconductors Stock Performance

The business’s 50 day simple moving average is $55.39 and its 200-day simple moving average is $54.50. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 40.05 and a beta of 3.36.

ProShares Ultra Semiconductors Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th were paid a dividend of $0.0587 per share. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.3%.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

A number of institutional investors have recently modified their holdings of USD. Guerra Advisors Inc acquired a new stake in shares of ProShares Ultra Semiconductors in the 3rd quarter valued at $26,000. Federation des caisses Desjardins du Quebec acquired a new stake in shares of ProShares Ultra Semiconductors in the 4th quarter valued at $32,000. BOKF NA lifted its stake in shares of ProShares Ultra Semiconductors by 100.0% in 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 stake in shares of ProShares Ultra Semiconductors by 100.0% in 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. Finally, Franklin Resources Inc. acquired a new stake in shares of ProShares Ultra Semiconductors in the 2nd quarter valued at $61,000.

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.