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

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $119.05, but opened at $126.35. ProShares Ultra Silver shares last traded at $126.75, with a volume of 677,697 shares trading hands.

ProShares Ultra Silver Stock Up 5.7%

The firm has a fifty day moving average of $134.21 and a 200 day moving average of $140.43.

Hedge Funds Weigh In On ProShares Ultra Silver

Large investors have recently bought and sold shares of the business. Compass Wealth Management LLC purchased a new position in ProShares Ultra Silver in the third quarter valued at $257,000. Clear Harbor Asset Management LLC purchased a new position in ProShares Ultra Silver in the third quarter valued at $2,020,000. Brookstone Capital Management purchased a new position in ProShares Ultra Silver in the third quarter valued at $518,000. Genesis Financial Group LLC purchased a new position in ProShares Ultra Silver in the fourth quarter valued at $3,258,000. Finally, SLT Holdings LLC increased its holdings in ProShares Ultra Silver by 115.0% in the third quarter. SLT Holdings LLC now owns 10,750 shares of the exchange traded fund’s stock valued at $820,000 after buying an additional 5,750 shares during the last quarter.

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.