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

ProShares Ultra Semiconductors (NYSEARCA:USD) gapped up prior to trading on Wednesday . The stock had previously closed at $65.81, but opened at $67.92. ProShares Ultra Semiconductors shares last traded at $68.42, with a volume of 277,934 shares trading hands.

ProShares Ultra Semiconductors Stock Performance

The business’s 50-day moving average is $68.13 and its two-hundred day moving average is $64.59.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

A number of hedge funds have recently modified their holdings of the company. Bogart Wealth LLC purchased a new position in ProShares Ultra Semiconductors in the third quarter worth approximately $120,000. Scientech Research LLC acquired a new position in shares of ProShares Ultra Semiconductors in the 2nd quarter valued at $220,000. First National Trust Co purchased a new position in shares of ProShares Ultra Semiconductors during the 2nd quarter worth $223,000. Plotkin Financial Advisors LLC acquired a new stake in shares of ProShares Ultra Semiconductors during the 3rd quarter worth about $226,000. Finally, IMC Chicago LLC raised its holdings in ProShares Ultra Semiconductors by 120.0% in the 3rd quarter. IMC Chicago LLC now owns 30,468 shares of the company’s stock valued at $3,653,000 after buying an additional 16,620 shares during the period.

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.