ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Up – What’s Next?

ProShares Ultra Semiconductors (NYSEARCA:USD) shares gapped up before the market opened on Monday . The stock had previously closed at $88.68, but opened at $95.71. ProShares Ultra Semiconductors shares last traded at $93.4430, with a volume of 331,758 shares.

ProShares Ultra Semiconductors Price Performance

The company has a market cap of $2.91 billion, a price-to-earnings ratio of 40.05 and a beta of 3.66. The business’s 50-day simple moving average is $79.75 and its 200-day simple moving average is $63.14.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mariner LLC grew its holdings in shares of ProShares Ultra Semiconductors by 66.6% during the fourth quarter. Mariner LLC now owns 14,832,743 shares of the company’s stock worth $778,867,000 after buying an additional 5,928,597 shares in the last quarter. Dale Q Rice Investment Management Ltd grew its holdings in shares of ProShares Ultra Semiconductors by 2.0% during the first quarter. Dale Q Rice Investment Management Ltd now owns 447,279 shares of the company’s stock worth $21,447,000 after buying an additional 8,716 shares in the last quarter. IMC Chicago LLC grew its holdings in shares of ProShares Ultra Semiconductors by 21.1% during the fourth quarter. IMC Chicago LLC now owns 63,823 shares of the company’s stock worth $3,351,000 after buying an additional 11,116 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of ProShares Ultra Semiconductors by 99.3% during the fourth quarter. Blair William & Co. IL now owns 60,282 shares of the company’s stock worth $3,165,000 after buying an additional 30,031 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. grew its holdings in shares of ProShares Ultra Semiconductors by 89.7% during the fourth quarter. Retirement Planning Co of New England Inc. now owns 50,465 shares of the company’s stock worth $2,650,000 after buying an additional 23,865 shares in the last quarter.

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.