ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Here’s Why

ProShares Ultra Silver (NYSEARCA:AGQ) gapped up prior to trading on Thursday . The stock had previously closed at $68.33, but opened at $72.11. ProShares Ultra Silver shares last traded at $74.50, with a volume of 1,271,576 shares trading hands.

ProShares Ultra Silver Stock Performance

The stock has a 50-day moving average of $105.59 and a 200-day moving average of $145.45.

Hedge Funds Weigh In On ProShares Ultra Silver

Several hedge funds have recently bought and sold shares of the company. UBS Group AG bought a new position in ProShares Ultra Silver in the fourth quarter valued at approximately $9,454,000. Genesis Financial Group LLC bought a new position in ProShares Ultra Silver in the fourth quarter valued at about $3,258,000. Group One Trading LLC raised its holdings in ProShares Ultra Silver by 1,826.8% in the 3rd quarter. Group One Trading LLC now owns 58,711 shares of the exchange traded fund’s stock valued at $4,476,000 after buying an additional 55,664 shares during the last quarter. Advisory Alpha LLC raised its stake in shares of ProShares Ultra Silver by 10.1% during the third quarter. Advisory Alpha LLC now owns 21,168 shares of the exchange traded fund’s stock valued at $1,608,000 after acquiring an additional 1,938 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in ProShares Ultra Silver during the 4th quarter worth about $222,000.

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.