ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Here’s What Happened

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) gapped up prior to trading on Monday. The stock had previously closed at $43.77, but opened at $46.39. ProShares Ultra Silver shares last traded at $46.72, with a volume of 1,072,035 shares trading hands.

ProShares Ultra Silver Stock Down 3.3%

The stock has a 50 day moving average of $69.12 and a two-hundred day moving average of $109.49.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGQ. Strategic Investment Solutions Inc. IL raised its stake in ProShares Ultra Silver by 223.0% during the second quarter. Strategic Investment Solutions Inc. IL now owns 617 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 426 shares during the last quarter. Compass Wealth Management LLC bought a new stake in ProShares Ultra Silver in the third quarter worth $68,000. Bullseye Investment Management LLC purchased a new position in shares of ProShares Ultra Silver in the second quarter valued at about $69,000. Independent Financial Group LLC purchased a new stake in ProShares Ultra Silver during the first quarter valued at $245,000. Finally, NewEdge Advisors LLC increased its stake in ProShares Ultra Silver by 110.3% in the first quarter. NewEdge Advisors LLC now owns 2,723 shares of the exchange traded fund’s stock worth $325,000 after purchasing an additional 1,428 shares during the period.

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.