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

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped up prior to trading 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 Performance

The business has a 50-day simple moving average of $195.19 and a two-hundred day simple moving average of $118.03.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC acquired a new stake in ProShares Ultra Silver in the 4th quarter valued at $31,000. IFP Advisors Inc bought a new position in shares of ProShares Ultra Silver in the 4th quarter valued at about $31,000. Farther Finance Advisors LLC acquired a new stake in shares of ProShares Ultra Silver in the third quarter valued at about $35,000. Spire Wealth Management bought a new stake in ProShares Ultra Silver during the fourth quarter worth about $50,000. Finally, Steward Partners Investment Advisory LLC bought a new stake 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.