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

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price gapped up prior to trading on Wednesday. The stock had previously closed at $54.66, but opened at $59.25. ProShares Ultra Semiconductors shares last traded at $59.5070, with a volume of 339,820 shares changing hands.

ProShares Ultra Semiconductors Stock Up 13.3%

The firm has a 50 day moving average of $83.63 and a 200 day moving average of $78.61. The firm has a market cap of $1.97 billion, a PE ratio of 40.05 and a beta of 3.79.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC grew its stake in shares of ProShares Ultra Semiconductors by 10.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 663,610 shares of the company’s stock worth $69,188,000 after acquiring an additional 64,000 shares during the period. Dale Q Rice Investment Management Ltd raised its stake in ProShares Ultra Semiconductors by 0.3% in the 3rd quarter. Dale Q Rice Investment Management Ltd now owns 459,544 shares of the company’s stock valued at $44,245,000 after acquiring an additional 1,230 shares during the period. SBI Securities Co. Ltd. raised its stake in ProShares Ultra Semiconductors by 179.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 15,385 shares of the company’s stock valued at $1,481,000 after acquiring an additional 9,889 shares during the period. Client First Investment Management LLC bought a new stake in ProShares Ultra Semiconductors in the 2nd quarter valued at about $1,121,000. Finally, Quantinno Capital Management LP lifted its holdings in ProShares Ultra Semiconductors by 414.2% during the first quarter. Quantinno Capital Management LP now owns 21,615 shares of the company’s stock valued at $1,036,000 after purchasing an additional 17,411 shares during 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.