ProShares Ultra Silver (NYSEARCA:AGQ) Sees Large Volume Increase – Should You Buy?

ProShares Ultra Silver (NYSEARCA:AGQ) shares saw an uptick in trading volume on Friday . 1,541,437 shares traded hands during trading, a decline of 35% from the previous session’s volume of 2,366,983 shares.The stock last traded at $182.46 and had previously closed at $167.68.

ProShares Ultra Silver Stock Performance

The company’s 50-day simple moving average is $103.17 and its 200-day simple moving average is $73.98.

Institutional Investors Weigh In On ProShares Ultra Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in AGQ. HighTower Advisors LLC bought a new position in ProShares Ultra Silver during the 1st quarter worth $219,000. Savior LLC grew its stake in shares of ProShares Ultra Silver by 7.6% in the 2nd quarter. Savior LLC now owns 27,470 shares of the exchange traded fund’s stock worth $1,305,000 after purchasing an additional 1,947 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of ProShares Ultra Silver during the 2nd quarter valued at $1,019,000. Simplex Trading LLC increased its stake in ProShares Ultra Silver by 2,095.5% in the 2nd quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock worth $2,013,000 after purchasing an additional 40,464 shares in the last quarter. Finally, Everstar Asset Management LLC purchased a new position in ProShares Ultra Silver during the 1st quarter worth approximately $866,000.

About ProShares Ultra Silver

ProShares Ultra Silver (the Fund) seeks to provide daily investment results that correspond to twice (200%) the daily performance as measured by the United States dollar fixing price for delivery in London. The Fund will not directly or physically hold the underlying silver, but instead will seek exposure to silver through the use of financial instruments, whose value is based on the underlying price of silver to pursue their investment objective. The benchmark price of silver will be the United States dollar price of silver bullion as measured by the London fixing price per troy ounce of unallocated silver bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery.