ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Up – Should You Buy?

ProShares Ultra Semiconductors (NYSEARCA:USD) shares gapped up prior to trading on Tuesday. The stock had previously closed at $66.02, but opened at $69.44. ProShares Ultra Semiconductors shares last traded at $69.9590, with a volume of 325,994 shares traded.

ProShares Ultra Semiconductors Trading Up 5.9%

The firm’s fifty day moving average price is $86.61 and its 200 day moving average price is $78.54. The firm has a market capitalization of $2.19 billion, a PE ratio of 40.05 and a beta of 3.70.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

A number of large investors have recently modified their holdings of USD. Latitude Advisors LLC bought a new position in shares of ProShares Ultra Semiconductors in the third quarter valued at about $25,000. Diversify Wealth Management LLC acquired a new stake in ProShares Ultra Semiconductors in the first quarter worth $155,000. Nwam LLC acquired a new stake in ProShares Ultra Semiconductors in the 2nd quarter valued at $209,000. Sequoia Financial Advisors LLC purchased a new position in shares of ProShares Ultra Semiconductors during the second quarter valued at approximately $223,000. Finally, Independent Financial Group LLC purchased a new stake in ProShares Ultra Semiconductors in the 1st quarter valued at $231,000.

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.