ProShares Ultra Silver (NYSEARCA:AGQ) Sees Large Growth in Short Interest

ProShares Ultra Silver (NYSEARCA:AGQ) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totaling 2,450,661 shares, an increase of 89.6% from the September 30th total of 1,292,263 shares. Based on an average daily trading volume, of 2,668,610 shares, the days-to-cover ratio is currently 0.9 days. Currently, 13.0% of the shares of the stock are sold short.

ProShares Ultra Silver Stock Up 4.5%

AGQ stock opened at $45.76 on Tuesday. ProShares Ultra Silver has a 1 year low of $42.87 and a 1 year high of $431.47. The stock’s 50 day moving average price is $70.02 and its 200 day moving average price is $110.60.

Institutional Trading of ProShares Ultra Silver

Several institutional investors have recently made changes to their positions in the stock. Hoey Investments Inc. boosted its holdings in shares of ProShares Ultra Silver by 767.4% in the first quarter. Hoey Investments Inc. now owns 9,099 shares of the exchange traded fund’s stock valued at $1,087,000 after acquiring an additional 8,050 shares in the last quarter. TB Alternative Assets Ltd. acquired a new stake in shares of ProShares Ultra Silver in the third quarter valued at $7,962,000. Integrated Advisors Network LLC bought a new position in ProShares Ultra Silver during the third quarter valued at about $563,000. Bullseye Investment Management LLC bought a new stake in ProShares Ultra Silver in the second quarter worth about $69,000. Finally, Strategic Investment Solutions Inc. IL boosted its holdings 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 in the last quarter.

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.