ProShares Ultra Silver (NYSEARCA:AGQ) Stock Price Up 6.9% – Time to Buy?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) were up 6.9% during mid-day trading on Friday . The stock traded as high as $149.65 and last traded at $146.4250. Approximately 1,752,558 shares were traded during trading, a decline of 84% from the average daily volume of 10,651,879 shares. The stock had previously closed at $136.92.

ProShares Ultra Silver Stock Performance

The company has a 50 day moving average price of $194.53 and a two-hundred day moving average price of $117.28.

Institutional Trading of ProShares Ultra Silver

A number of institutional investors and hedge funds have recently modified their holdings of AGQ. Simplex Trading LLC increased its stake in shares of ProShares Ultra Silver by 2,095.5% during the second 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. Foundations Investment Advisors LLC purchased a new stake in ProShares Ultra Silver during the 2nd quarter worth approximately $237,000. Steward Partners Investment Advisory LLC purchased a new stake in ProShares Ultra Silver during the 2nd quarter worth approximately $56,000. EverSource Wealth Advisors LLC acquired a new position in shares of ProShares Ultra Silver during the second quarter valued at approximately $1,019,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of ProShares Ultra Silver during the second quarter valued at approximately $492,000.

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.