ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Still a Buy?

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $42.48, but opened at $44.91. ProShares Ultra Silver shares last traded at $43.19, with a volume of 954,491 shares changing hands.

ProShares Ultra Silver Stock Down 0.7 %

The business has a 50 day simple moving average of $38.14 and a 200-day simple moving average of $38.61.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Quadrature Capital Ltd acquired a new position in ProShares Ultra Silver during the third quarter valued at approximately $2,566,000. Simplex Trading LLC boosted its position in ProShares Ultra Silver by 206.0% during the fourth quarter. Simplex Trading LLC now owns 28,155 shares of the exchange traded fund’s stock valued at $947,000 after purchasing an additional 18,954 shares during the last quarter. Advisory Alpha LLC boosted its position in ProShares Ultra Silver by 1.9% during the fourth quarter. Advisory Alpha LLC now owns 18,091 shares of the exchange traded fund’s stock valued at $609,000 after purchasing an additional 341 shares during the last quarter. Fiduciary Family Office LLC bought a new stake in ProShares Ultra Silver in the fourth quarter valued at approximately $324,000. Finally, Flow Traders U.S. LLC bought a new stake in ProShares Ultra Silver in the third quarter valued at approximately $359,000.

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.