ProShares Ultra Silver (NYSEARCA:AGQ) Sets New 52-Week High – Time to Buy?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) hit a new 52-week high on Tuesday . The stock traded as high as $201.01 and last traded at $198.8310, with a volume of 3011611 shares trading hands. The stock had previously closed at $180.20.

ProShares Ultra Silver Trading Down 3.7%

The company has a 50 day moving average price of $120.59 and a 200 day moving average price of $82.23.

Institutional Trading of ProShares Ultra Silver

Several hedge funds have recently made changes to their positions in the company. Group One Trading LLC raised its holdings in ProShares Ultra Silver by 1,826.8% during the third quarter. Group One Trading LLC now owns 58,711 shares of the exchange traded fund’s stock worth $4,476,000 after purchasing an additional 55,664 shares in the last quarter. Simplex Trading LLC boosted its holdings in ProShares Ultra Silver by 2,095.5% in the 2nd quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock valued at $2,013,000 after purchasing an additional 40,464 shares in the last quarter. Savior LLC increased its position in ProShares Ultra Silver by 5.2% during the 3rd quarter. Savior LLC now owns 28,889 shares of the exchange traded fund’s stock worth $2,202,000 after purchasing an additional 1,419 shares during the period. Clear Harbor Asset Management LLC purchased a new position in shares of ProShares Ultra Silver during the 3rd quarter worth approximately $2,020,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of ProShares Ultra Silver during the 2nd quarter worth approximately $1,019,000.

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.