ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Should You Buy?

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $36.89, but opened at $38.32. ProShares Ultra Silver shares last traded at $37.92, with a volume of 277,995 shares.

ProShares Ultra Silver Stock Up 3.4 %

The stock has a 50 day simple moving average of $41.65 and a 200 day simple moving average of $39.22.

Institutional Investors Weigh In On ProShares Ultra Silver

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in shares of ProShares Ultra Silver during the 3rd quarter valued at $2,566,000. Keynote Financial Services LLC acquired a new position in ProShares Ultra Silver in the 1st quarter worth about $817,000. Insigneo Advisory Services LLC purchased a new stake in shares of ProShares Ultra Silver during the 2nd quarter worth about $918,000. Advisory Alpha LLC bought a new stake in shares of ProShares Ultra Silver in the 2nd quarter valued at approximately $495,000. Finally, Flow Traders U.S. LLC bought a new position in ProShares Ultra Silver during the third quarter valued at approximately $359,000.

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.