ProShares Ultra Semiconductors (NYSEARCA:USD) Trading Up 5.5% – Should You Buy?

ProShares Ultra Semiconductors (NYSEARCA:USD) traded up 5.5% during trading on Friday . The stock traded as high as $69.20 and last traded at $69.30. 129,711 shares were traded during 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 Stock Performance

The stock’s 50 day moving average is $66.71 and its 200 day moving average is $64.16.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

Several hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC purchased a new stake in shares of ProShares Ultra Semiconductors in the third quarter worth $120,000. Scientech Research LLC purchased a new position in ProShares Ultra Semiconductors in the 2nd quarter worth approximately $220,000. Pure Financial Advisors LLC raised its position in shares of ProShares Ultra Semiconductors by 100.0% during the 4th quarter. Pure Financial Advisors LLC now owns 3,436 shares of the company’s stock valued at $224,000 after buying an additional 1,718 shares in the last quarter. Plotkin Financial Advisors LLC purchased a new position in ProShares Ultra Semiconductors in the third quarter worth $226,000. Finally, Merit Financial Group LLC purchased a new stake in ProShares Ultra Semiconductors during the 4th quarter valued at $280,000.

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.