ProShares Ultra Silver (NYSEARCA:AGQ) Stock Price Up 6% – Still a Buy?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) rose 6% on Wednesday . The stock traded as high as $71.12 and last traded at $70.03. Approximately 1,119,254 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 5,512,705 shares. The stock had previously closed at $66.09.

ProShares Ultra Silver Price Performance

The stock’s 50 day simple moving average is $89.68 and its 200-day simple moving average is $136.67.

Institutional Investors Weigh In On ProShares Ultra Silver

Large investors have recently added to or reduced their stakes in the stock. Group One Trading LLC boosted its holdings in ProShares Ultra Silver by 53.3% during the fourth quarter. Group One Trading LLC now owns 90,024 shares of the exchange traded fund’s stock valued at $13,965,000 after acquiring an additional 31,313 shares during the period. UBS Group AG acquired a new stake in shares of ProShares Ultra Silver during the 4th quarter worth about $9,454,000. Jump Financial LLC boosted its holdings in shares of ProShares Ultra Silver by 678.8% in the 4th quarter. Jump Financial LLC now owns 52,811 shares of the exchange traded fund’s stock worth $8,192,000 after acquiring an additional 46,030 shares in the last quarter. Advisory Alpha LLC increased its stake in shares of ProShares Ultra Silver by 7.3% in the fourth quarter. Advisory Alpha LLC now owns 22,722 shares of the exchange traded fund’s stock valued at $3,525,000 after buying an additional 1,554 shares in the last quarter. Finally, Genesis Financial Group LLC acquired a new position in shares of ProShares Ultra Silver during the fourth quarter worth approximately $3,258,000.

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.