ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Time to Buy?

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $102.94, but opened at $112.86. ProShares Ultra Silver shares last traded at $112.65, with a volume of 1,677,251 shares changing hands.

ProShares Ultra Silver Price Performance

The firm’s 50-day moving average price is $184.69 and its two-hundred day moving average price is $133.44.

Institutional Trading of ProShares Ultra Silver

A number of hedge funds have recently bought and sold shares of the stock. LPL Financial LLC increased its holdings in shares of ProShares Ultra Silver by 3.7% in the 4th quarter. LPL Financial LLC now owns 3,633 shares of the exchange traded fund’s stock valued at $564,000 after acquiring an additional 128 shares during the period. Hollencrest Capital Management lifted its stake in shares of ProShares Ultra Silver by 2.3% during the 4th quarter. Hollencrest Capital Management now owns 6,049 shares of the exchange traded fund’s stock worth $938,000 after purchasing an additional 137 shares during the last quarter. Signaturefd LLC purchased a new stake in shares of ProShares Ultra Silver during the 4th quarter worth $31,000. IFP Advisors Inc bought a new stake in ProShares Ultra Silver during the fourth quarter valued at about $31,000. Finally, Blue Trust Inc. boosted its position in ProShares Ultra Silver by 86.7% during the fourth quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock valued at $76,000 after purchasing an additional 228 shares in the last quarter.

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.