ProShares Ultra Semiconductors (NYSEARCA:USD) Shares Up 5.5% – Still a Buy?

ProShares Ultra Semiconductors (NYSEARCA:USD) shot up 5.5% during trading on Friday . The stock traded as high as $69.20 and last traded at $69.30. 129,711 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 769,534 shares. The stock had previously closed at $65.69.

ProShares Ultra Semiconductors Price Performance

The company has a 50 day simple moving average of $66.63 and a 200 day simple moving average of $64.11.

Institutional Investors Weigh In On ProShares Ultra Semiconductors

Institutional investors have recently bought and sold shares of the company. Client First Investment Management LLC lifted its stake in 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 valued at $4,325,000 after acquiring an additional 27,435 shares in the last quarter. Bogart Wealth LLC bought a new stake in ProShares Ultra Semiconductors in the 3rd quarter valued at approximately $120,000. Scientech Research LLC bought a new stake in ProShares Ultra Semiconductors in the 2nd quarter valued at approximately $220,000. Merit Financial Group LLC bought a new stake in ProShares Ultra Semiconductors in the 4th quarter valued at approximately $280,000. Finally, Advisory Alpha LLC increased its position in shares of ProShares Ultra Semiconductors by 100.2% during the 4th quarter. Advisory Alpha LLC now owns 10,224 shares of the company’s stock worth $666,000 after purchasing an additional 5,117 shares during 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.