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 trading hands.

ProShares Ultra Semiconductors Stock Up 3.9 %

The company’s fifty day moving average price is $67.40 and its 200-day moving average price is $64.04.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Several institutional investors have recently made changes to their positions in the company. Bogart Wealth LLC bought a new stake in ProShares Ultra Semiconductors during the 3rd quarter valued at about $120,000. Scientech Research LLC bought a new stake in ProShares Ultra Semiconductors during the 2nd quarter valued at about $220,000. First National Trust Co bought a new stake in ProShares Ultra Semiconductors during the 2nd quarter valued at about $223,000. Pure Financial Advisors LLC bought a new stake in ProShares Ultra Semiconductors during the 2nd quarter valued at about $239,000. Finally, Plotkin Financial Advisors LLC bought a new stake in ProShares Ultra Semiconductors during the 3rd quarter valued at about $226,000.

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.