ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Up 8.2% – Time to Buy?

ProShares Ultra Semiconductors (NYSEARCA:USD) shares traded up 8.2% during mid-day trading on Monday . The company traded as high as $78.09 and last traded at $77.80. 476,291 shares traded hands during trading, a decline of 32% from the average session volume of 700,636 shares. The stock had previously closed at $71.90.

ProShares Ultra Semiconductors Price Performance

The firm has a fifty day simple moving average of $68.27 and a two-hundred day simple moving average of $64.23.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

A number of institutional investors and hedge funds have recently made changes to their positions in USD. Client First Investment Management LLC grew its stake in shares of ProShares Ultra Semiconductors by 750.4% in the 2nd quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock worth $4,325,000 after buying an additional 27,435 shares in the last quarter. Bogart Wealth LLC bought a new position in ProShares Ultra Semiconductors in the 3rd quarter valued at $120,000. Scientech Research LLC purchased a new stake in shares of ProShares Ultra Semiconductors during the second quarter valued at $220,000. Plotkin Financial Advisors LLC bought a new position in shares of ProShares Ultra Semiconductors in the third quarter worth about $226,000. Finally, IMC Chicago LLC increased its stake in ProShares Ultra Semiconductors by 120.0% in the 3rd quarter. IMC Chicago LLC now owns 30,468 shares of the company’s stock worth $3,653,000 after buying an additional 16,620 shares during the period.

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.