ProShares Ultra Silver (NYSEARCA:AGQ) Trading Up 11.6% – Here’s What Happened

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price shot up 11.6% during trading on Thursday . The stock traded as high as $137.72 and last traded at $137.62. 2,053,015 shares changed hands during trading, a decline of 71% from the average session volume of 6,961,106 shares. The stock had previously closed at $123.28.

ProShares Ultra Silver Stock Performance

The company has a 50-day moving average of $129.52 and a 200 day moving average of $142.37.

Institutional Investors Weigh In On ProShares Ultra Silver

Several hedge funds have recently added to or reduced their stakes in AGQ. Signaturefd LLC bought a new stake in ProShares Ultra Silver during the fourth quarter worth about $31,000. IFP Advisors Inc bought a new stake in ProShares Ultra Silver during the fourth quarter worth about $31,000. Farther Finance Advisors LLC bought a new stake in ProShares Ultra Silver during the third quarter worth about $35,000. Spire Wealth Management bought a new stake in ProShares Ultra Silver during the fourth quarter worth about $50,000. Finally, Blue Trust Inc. lifted its stake in ProShares Ultra Silver by 86.7% during the fourth quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock worth $76,000 after purchasing an additional 228 shares during the last quarter.

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.