ProShares Ultra Silver (NYSEARCA:AGQ) Shares Up 10.9% – Still a Buy?

ProShares Ultra Silver (NYSEARCA:AGQ) shares were up 10.9% on Monday . The stock traded as high as $151.95 and last traded at $151.5210. Approximately 2,728,351 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 11,977,792 shares. The stock had previously closed at $136.61.

ProShares Ultra Silver Stock Performance

The company’s 50-day simple moving average is $192.25 and its 200 day simple moving average is $114.06.

Institutional Investors Weigh In On ProShares Ultra Silver

Large investors have recently added to or reduced their stakes in the stock. Compass Wealth Management LLC purchased a new position in shares of ProShares Ultra Silver in the 3rd quarter worth approximately $257,000. Clear Harbor Asset Management LLC purchased a new stake in ProShares Ultra Silver during the 3rd quarter valued at $2,020,000. Brookstone Capital Management bought a new stake in ProShares Ultra Silver in the third quarter worth $518,000. SLT Holdings LLC boosted its stake in ProShares Ultra Silver by 115.0% during the third quarter. SLT Holdings LLC now owns 10,750 shares of the exchange traded fund’s stock worth $820,000 after buying an additional 5,750 shares during the period. Finally, Csenge Advisory Group boosted its stake in ProShares Ultra Silver by 54.1% during the third quarter. Csenge Advisory Group now owns 7,926 shares of the exchange traded fund’s stock worth $604,000 after buying an additional 2,783 shares during the period.

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.