I decided to make myself a little more familiar with the reasons behind this particular holiday. Thus, this is what Britannica says about it:
Ascension
At first, the church commemorated the Ascension (from the Latin ascensio, "ascent") of Christ into heaven, after his Resurrection (Luke 24:50-51; Acts 1:1-11), as part of the total victory of Christ celebrated from Easter to Pentecost. A special feast of the Ascension is not mentioned before the 4th century. The Spanish Council of Elvira (c. 300) appears to have rejected it as an unwarranted innovation. But by the end of the 4th century the feast had become universal in the church, on the 40th day after Easter.
The old English popular name for the feast is Holy Thursday, but there is no liturgical tradition to support the idea of an "Ascensiontide" as a season distinct from Easter. From the 10th century there developed an "octave" of Ascension, adopted at Rome in the 12th century but suppressed in 1955. The three days before Ascension Day, known as Minor Rogation Days, were instituted by Bishop Mamertus of Vienne (Gaul) in 470 and extended to all the Frankish churches at the Council of Orlians in 511. Pope Leo III (reigned 795-816) adopted them at Rome. They are observed by processional litanies and fasting as a supplication for clement weather for the crops and deliverance from pestilence and famine. In 1969 the Minor Rogation Days were changed to votive masses.
from http://www.britannica.com/bcom/eb/article/3/0,5716,108313+15,00.html; selected from the article "Church Year" on Britannica.com