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

ProShares Ultra Silver (NYSEARCA:AGQGet Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $109.17, but opened at $121.51. ProShares Ultra Silver shares last traded at $122.91, with a volume of 1,325,036 shares trading hands.

ProShares Ultra Silver Price Performance

The stock’s 50 day moving average is $130.54 and its two-hundred day moving average is $142.19.

Institutional Trading of ProShares Ultra Silver

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG bought a new stake in ProShares Ultra Silver during the fourth quarter worth about $9,454,000. Group One Trading LLC grew its stake 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 buying an additional 55,664 shares during the last quarter. Jump Financial LLC grew its stake in ProShares Ultra Silver by 678.8% during the fourth quarter. Jump Financial LLC now owns 52,811 shares of the exchange traded fund’s stock worth $8,192,000 after buying an additional 46,030 shares during the last quarter. Clear Harbor Asset Management LLC bought a new stake in ProShares Ultra Silver during the third quarter worth about $2,020,000. Finally, Genesis Financial Group LLC bought a new stake in ProShares Ultra Silver during the fourth quarter worth about $3,258,000.

About ProShares Ultra Silver

(Get Free Report)

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.

Further Reading

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