ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Should You Buy?

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $168.95, but opened at $180.77. ProShares Ultra Silver shares last traded at $180.0490, with a volume of 1,768,653 shares trading hands.

ProShares Ultra Silver Stock Up 8.5%

The company has a 50 day simple moving average of $196.74 and a 200-day simple moving average of $120.64.

Institutional Trading of ProShares Ultra Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGQ. Signaturefd LLC purchased a new stake in shares of ProShares Ultra Silver in the fourth quarter worth approximately $31,000. IFP Advisors Inc bought a new position in ProShares Ultra Silver during the 4th quarter valued at $31,000. Farther Finance Advisors LLC purchased a new position in ProShares Ultra Silver during the 3rd quarter worth $35,000. Spire Wealth Management bought a new stake in shares of ProShares Ultra Silver in the 4th quarter worth $50,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of ProShares Ultra Silver in the second quarter valued at about $56,000.

ProShares Ultra Silver Company Profile

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.