ProShares Ultra Semiconductors (NYSEARCA:USD) Trading 8.2% Higher – What’s Next?

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

ProShares Ultra Semiconductors Price Performance

The company has a 50-day moving average of $68.15 and a 200-day moving average of $64.39.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC bought a new position in ProShares Ultra Semiconductors during the 3rd quarter worth $120,000. Scientech Research LLC bought a new position in ProShares Ultra Semiconductors during the second quarter worth about $220,000. Plotkin Financial Advisors LLC bought a new stake in ProShares Ultra Semiconductors in the 3rd quarter valued at about $226,000. IMC Chicago LLC grew its position in shares of ProShares Ultra Semiconductors by 120.0% during the 3rd quarter. IMC Chicago LLC now owns 30,468 shares of the company’s stock worth $3,653,000 after purchasing an additional 16,620 shares in the last quarter. Finally, Client First Investment Management LLC raised its position in shares of ProShares Ultra Semiconductors by 750.4% in the second quarter. Client First Investment Management LLC now owns 31,091 shares of the company’s stock valued at $4,325,000 after buying an additional 27,435 shares in 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.