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

ProShares Ultra Silver (NYSEARCA:AGQ) shares gapped up before the market opened on Friday . The stock had previously closed at $281.03, but opened at $301.56. ProShares Ultra Silver shares last traded at $301.8510, with a volume of 1,644,414 shares traded.

ProShares Ultra Silver Stock Up 8.6%

The business has a fifty day simple moving average of $155.39 and a two-hundred day simple moving average of $96.73.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SLT Holdings LLC purchased a new stake in ProShares Ultra Silver in the 2nd quarter valued at $237,000. Simplex Trading LLC raised its stake in shares of ProShares Ultra Silver by 2,095.5% in the 2nd quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock valued at $2,013,000 after acquiring an additional 40,464 shares during the period. Foundations Investment Advisors LLC acquired a new position in ProShares Ultra Silver during the second quarter worth $237,000. Steward Partners Investment Advisory LLC acquired a new position in ProShares Ultra Silver during the 2nd quarter worth about $56,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of ProShares Ultra Silver during the second quarter worth about $1,019,000.

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.