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

ProShares Ultra Silver (NYSEARCA:AGQ) gapped up before the market opened on Thursday . The stock had previously closed at $73.77, but opened at $79.11. ProShares Ultra Silver shares last traded at $79.88, with a volume of 787,620 shares.

ProShares Ultra Silver Price Performance

The firm has a 50-day simple moving average of $74.71 and a two-hundred day simple moving average of $99.78.

Institutional Investors Weigh In On ProShares Ultra Silver

A number of large investors have recently added to or reduced their stakes in AGQ. IFP Advisors Inc bought a new position in shares of ProShares Ultra Silver in the fourth quarter valued at approximately $31,000. Strategic Investment Solutions Inc. IL grew its stake in ProShares Ultra Silver by 223.0% in the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 617 shares of the exchange traded fund’s stock valued at $42,000 after buying an additional 426 shares during the last quarter. Bullseye Investment Management LLC bought a new position in ProShares Ultra Silver in the 2nd quarter worth $69,000. Sovereign Financial Group Inc. bought a new position in ProShares Ultra Silver in the 1st quarter worth $204,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in ProShares Ultra Silver during the 4th quarter worth $270,000.

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.