ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Up 2% – Time to Buy?

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

ProShares Ultra Semiconductors Stock Performance

The company has a 50 day moving average of $88.56 and a two-hundred day moving average of $85.43. The stock has a market cap of $3.10 billion, a PE ratio of 40.05 and a beta of 3.70.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

A number of institutional investors have recently added to or reduced their stakes in the stock. Mariner LLC raised its stake in ProShares Ultra Semiconductors by 66.6% in the 4th quarter. Mariner LLC now owns 14,832,743 shares of the company’s stock valued at $778,867,000 after purchasing an additional 5,928,597 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in ProShares Ultra Semiconductors by 10.7% during the second quarter. Integrated Wealth Concepts LLC now owns 663,610 shares of the company’s stock worth $69,188,000 after purchasing an additional 64,000 shares during the last quarter. Dale Q Rice Investment Management Ltd raised its stake in ProShares Ultra Semiconductors by 2.0% during the first quarter. Dale Q Rice Investment Management Ltd now owns 447,279 shares of the company’s stock worth $21,447,000 after purchasing an additional 8,716 shares during the period. Quantinno Capital Management LP boosted its holdings 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 valued at $1,036,000 after purchasing an additional 17,411 shares during the last quarter. Finally, Client First Investment Management LLC purchased a new stake in shares of ProShares Ultra Semiconductors in the 2nd quarter valued at approximately $1,121,000.

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. It also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.