ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Gap Up – Still a Buy?

Shares of ProShares Ultra Semiconductors (NYSEARCA:USD) gapped up before the market opened on Wednesday . The stock had previously closed at $65.32, but opened at $67.37. ProShares Ultra Semiconductors shares last traded at $66.30, with a volume of 151,337 shares changing hands.

ProShares Ultra Semiconductors Trading Up 3.9 %

The stock’s fifty day simple moving average is $67.40 and its 200 day simple moving average is $64.04.

Institutional Trading of ProShares Ultra Semiconductors

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bogart Wealth LLC purchased a new position in ProShares Ultra Semiconductors during the third quarter valued at $120,000. Scientech Research LLC purchased a new position in ProShares Ultra Semiconductors during the second quarter valued at $220,000. First National Trust Co bought a new position in ProShares Ultra Semiconductors during the second quarter valued at $223,000. Pure Financial Advisors LLC bought a new position in ProShares Ultra Semiconductors during the second quarter valued at $239,000. Finally, Plotkin Financial Advisors LLC bought a new position in ProShares Ultra Semiconductors during the third quarter valued at $226,000.

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.