ProShares Ultra Silver (NYSEARCA:AGQ) Trading Up 6.8% – Time to Buy?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) traded up 6.8% during trading on Thursday . The company traded as high as $89.42 and last traded at $88.75. Approximately 2,111,677 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 5,077,247 shares. The stock had previously closed at $83.13.

ProShares Ultra Silver Stock Up 5.4%

The business has a fifty day moving average of $72.72 and a 200-day moving average of $109.41.

Institutional Trading of ProShares Ultra Silver

Hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC increased its position in ProShares Ultra Silver by 3.7% during the 4th quarter. LPL Financial LLC now owns 3,633 shares of the exchange traded fund’s stock valued at $564,000 after purchasing an additional 128 shares during the period. Hollencrest Capital Management boosted its stake in shares of ProShares Ultra Silver by 2.3% during the fourth quarter. Hollencrest Capital Management now owns 6,049 shares of the exchange traded fund’s stock valued at $938,000 after purchasing an additional 137 shares in the last quarter. IFP Advisors Inc bought a new position in shares of ProShares Ultra Silver during the fourth quarter valued at approximately $31,000. Osaic Holdings Inc. increased its holdings in ProShares Ultra Silver by 8.9% during the second quarter. Osaic Holdings Inc. now owns 4,220 shares of the exchange traded fund’s stock valued at $200,000 after buying an additional 345 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in ProShares Ultra Silver by 9.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,315 shares of the exchange traded fund’s stock worth $670,000 after buying an additional 365 shares in the last quarter.

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.