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

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $168.95, but opened at $180.77. ProShares Ultra Silver shares last traded at $180.0490, with a volume of 1,768,653 shares changing hands.

ProShares Ultra Silver Stock Up 11.0%

The business has a fifty day simple moving average of $198.02 and a 200 day simple moving average of $121.37.

Hedge Funds Weigh In On ProShares Ultra Silver

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC raised its stake in ProShares Ultra Silver by 3.7% in the fourth quarter. LPL Financial LLC now owns 3,633 shares of the exchange traded fund’s stock valued at $564,000 after purchasing an additional 128 shares in the last quarter. Hollencrest Capital Management increased its holdings in ProShares Ultra Silver by 2.3% in the 4th quarter. Hollencrest Capital Management now owns 6,049 shares of the exchange traded fund’s stock valued at $938,000 after buying an additional 137 shares during the period. Signaturefd LLC acquired a new position in shares of ProShares Ultra Silver in the 4th quarter valued at approximately $31,000. IFP Advisors Inc bought a new stake in shares of ProShares Ultra Silver during the 4th quarter worth approximately $31,000. Finally, Blue Trust Inc. boosted its position in shares of ProShares Ultra Silver by 86.7% during the 4th quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock worth $76,000 after acquiring an additional 228 shares in the last quarter.

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.