ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Climb 2% – Still a Buy?

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price traded up 2% during trading on Monday. The company traded as high as $103.23 and last traded at $102.97. Approximately 457,876 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 844,012 shares. The stock had previously closed at $100.98.

ProShares Ultra Semiconductors Stock Up 2.0%

The company has a market capitalization of $3.17 billion, a PE ratio of 40.05 and a beta of 3.70. The company has a 50-day moving average price of $88.00 and a two-hundred day moving average price of $85.07.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Institutional investors and hedge funds have recently made changes to their positions in the business. Mariner LLC lifted its position in ProShares Ultra Semiconductors by 66.6% in the 4th quarter. Mariner LLC now owns 14,832,743 shares of the company’s stock worth $778,867,000 after buying an additional 5,928,597 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in ProShares Ultra Semiconductors by 10.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 663,610 shares of the company’s stock valued at $69,188,000 after acquiring an additional 64,000 shares during the period. Dale Q Rice Investment Management Ltd grew its position in ProShares Ultra Semiconductors by 2.0% during the 1st quarter. Dale Q Rice Investment Management Ltd now owns 447,279 shares of the company’s stock worth $21,447,000 after acquiring an additional 8,716 shares during the last quarter. Client First Investment Management LLC purchased a new position in ProShares Ultra Semiconductors in the 2nd quarter worth approximately $1,121,000. Finally, Quantinno Capital Management LP increased its stake in ProShares Ultra Semiconductors by 414.2% in the 1st quarter. Quantinno Capital Management LP now owns 21,615 shares of the company’s stock worth $1,036,000 after purchasing an additional 17,411 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. It also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.