ProShares Ultra Semiconductors (NYSEARCA:USD) Reaches New 52-Week High – Here’s Why

ProShares Ultra Semiconductors (NYSEARCA:USD)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $71.40 and last traded at $71.2340, with a volume of 110924 shares traded. The stock had previously closed at $70.81.

ProShares Ultra Semiconductors Trading Up 5.2%

The company has a market cap of $2.20 billion, a P/E ratio of 40.05 and a beta of 3.36. The stock’s 50 day moving average is $55.96 and its 200-day moving average is $54.77.

Hedge Funds Weigh In On ProShares Ultra Semiconductors

A number of hedge funds have recently bought and sold shares of the company. Guerra Advisors Inc bought a new position in ProShares Ultra Semiconductors in the 3rd quarter worth about $26,000. BOKF NA lifted its stake in ProShares Ultra Semiconductors by 100.0% during the 4th quarter. BOKF NA now owns 720 shares of the company’s stock valued at $38,000 after acquiring an additional 360 shares during the period. Whittier Trust Co. lifted its stake in ProShares Ultra Semiconductors by 100.0% during the 4th quarter. Whittier Trust Co. now owns 960 shares of the company’s stock valued at $54,000 after acquiring an additional 480 shares during the period. Bank of America Corp DE lifted its stake in ProShares Ultra Semiconductors by 100.0% during the 4th quarter. Bank of America Corp DE now owns 1,050 shares of the company’s stock valued at $68,000 after acquiring an additional 525 shares during the period. Finally, Federation des caisses Desjardins du Quebec bought a new position in ProShares Ultra Semiconductors during the 4th quarter valued at about $32,000.

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