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

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $162.06, but opened at $172.79. ProShares Ultra Silver shares last traded at $169.34, with a volume of 1,191,733 shares traded.

ProShares Ultra Silver Stock Performance

The firm’s 50 day moving average is $197.21 and its two-hundred day moving average is $127.76.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC bought a new stake in shares of ProShares Ultra Silver in the fourth quarter worth about $31,000. IFP Advisors Inc acquired a new position in shares of ProShares Ultra Silver in the fourth quarter valued at approximately $31,000. Spire Wealth Management bought a new stake in ProShares Ultra Silver in the 4th quarter valued at $50,000. Farther Finance Advisors LLC bought a new position in ProShares Ultra Silver during the 3rd quarter worth about $35,000. Finally, Caitlin John LLC bought a new stake in shares of ProShares Ultra Silver in the fourth quarter valued at about $76,000.

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.