ProShares Ultra Semiconductors (NYSEARCA:USD) Trading 4.8% Higher

ProShares Ultra Semiconductors (NYSEARCA:USD) traded up 4.8% during mid-day trading on Thursday . The company traded as high as $83.66 and last traded at $83.50. 123,079 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 362,182 shares. The stock had previously closed at $79.70.

ProShares Ultra Semiconductors Stock Up 7.9 %

The stock’s fifty day moving average price is $91.79 and its 200-day moving average price is $65.65.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

A number of institutional investors have recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC acquired a new position in ProShares Ultra Semiconductors during the first quarter worth $29,000. Evanson Asset Management LLC acquired a new position in ProShares Ultra Semiconductors during the first quarter worth $767,000. Clarity Capital Partners LLC acquired a new position in ProShares Ultra Semiconductors during the fourth quarter worth $4,089,000. Cambridge Investment Research Advisors Inc. acquired a new position in ProShares Ultra Semiconductors during the fourth quarter worth $3,274,000. Finally, US Asset Management LLC bought a new position in ProShares Ultra Semiconductors during the fourth quarter worth $702,000.

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.