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

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $120.06, but opened at $132.15. ProShares Ultra Silver shares last traded at $135.7840, with a volume of 1,833,869 shares trading hands.

ProShares Ultra Silver Stock Up 13.3%

The firm has a 50 day simple moving average of $194.32 and a 200 day simple moving average of $117.03.

Institutional Trading of ProShares Ultra Silver

A number of hedge funds and other institutional investors have recently bought and sold shares of AGQ. Signaturefd LLC bought a new position in ProShares Ultra Silver in the 4th quarter valued at $31,000. IFP Advisors Inc purchased a new stake in shares of ProShares Ultra Silver in the fourth quarter worth $31,000. Farther Finance Advisors LLC bought a new stake in ProShares Ultra Silver during the third quarter valued at $35,000. Spire Wealth Management bought a new stake in ProShares Ultra Silver during the fourth quarter valued at $50,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in ProShares Ultra Silver during the second quarter worth about $56,000.

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.