ProShares Ultra Silver (NYSEARCA:AGQ) Trading Up 6.9% – What’s Next?

ProShares Ultra Silver (NYSEARCA:AGQ) shares rose 6.9% during trading on Friday . The stock traded as high as $149.65 and last traded at $146.4250. Approximately 1,752,558 shares were traded during trading, a decline of 84% from the average daily volume of 10,651,879 shares. The stock had previously closed at $136.92.

ProShares Ultra Silver Stock Up 11.2%

The business has a fifty day simple moving average of $194.53 and a two-hundred day simple moving average of $117.28.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Compass Wealth Management LLC purchased a new stake in shares of ProShares Ultra Silver during the 3rd quarter valued at approximately $257,000. Clear Harbor Asset Management LLC purchased a new stake in ProShares Ultra Silver in the third quarter valued at $2,020,000. Brookstone Capital Management purchased a new position in ProShares Ultra Silver during the third quarter worth about $518,000. SLT Holdings LLC increased its position in shares of ProShares Ultra Silver by 115.0% during the third quarter. SLT Holdings LLC now owns 10,750 shares of the exchange traded fund’s stock valued at $820,000 after acquiring an additional 5,750 shares during the last quarter. Finally, Csenge Advisory Group raised its stake in shares of ProShares Ultra Silver by 54.1% in the 3rd quarter. Csenge Advisory Group now owns 7,926 shares of the exchange traded fund’s stock valued at $604,000 after acquiring an additional 2,783 shares during the period.

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.