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

ProShares Ultra Silver (NYSEARCA:AGQ) shares gapped up before the market opened on Tuesday . The stock had previously closed at $162.06, but opened at $172.79. ProShares Ultra Silver shares last traded at $169.34, with a volume of 1,191,733 shares trading hands.

ProShares Ultra Silver Price Performance

The firm has a 50-day moving average of $197.21 and a 200 day moving average of $127.76.

Institutional Trading of ProShares Ultra Silver

Several hedge funds have recently modified their holdings of the company. Signaturefd LLC bought a new position in ProShares Ultra Silver in the 4th quarter valued at $31,000. IFP Advisors Inc bought a new position in ProShares Ultra Silver in the fourth quarter valued at about $31,000. Farther Finance Advisors LLC bought a new position in shares of ProShares Ultra Silver in the 3rd quarter valued at about $35,000. Spire Wealth Management bought a new position in ProShares Ultra Silver in the fourth quarter valued at approximately $50,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of ProShares Ultra Silver in the 2nd quarter valued at $56,000.

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.