ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Up – Here’s What Happened

ProShares Ultra Semiconductors (NYSEARCA:USD)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $99.11, but opened at $106.26. ProShares Ultra Semiconductors shares last traded at $107.1570, with a volume of 195,909 shares.

ProShares Ultra Semiconductors Stock Performance

The firm has a market cap of $3.30 billion, a P/E ratio of 40.05 and a beta of 3.66. The business’s fifty day moving average is $87.50 and its 200-day moving average is $65.74.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in ProShares Ultra Semiconductors by 100.0% in the fourth quarter. Bank of America Corp DE now owns 1,050 shares of the company’s stock valued at $68,000 after acquiring an additional 525 shares during the period. JPMorgan Chase & Co. bought a new stake in ProShares Ultra Semiconductors during the 2nd quarter valued at $311,000. Franklin Resources Inc. bought a new stake in ProShares Ultra Semiconductors during the 2nd quarter valued at $61,000. Raymond James Financial Inc. acquired a new position in ProShares Ultra Semiconductors during the second quarter worth $83,000. Finally, Concentrum Wealth Management acquired a new position in ProShares Ultra Semiconductors during the third quarter worth $240,000.

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.