ProShares Ultra Silver (NYSEARCA:AGQ) Stock Price Up 10.5% – Time to Buy?

ProShares Ultra Silver (NYSEARCA:AGQ) rose 10.5% during mid-day trading on Friday . The stock traded as high as $192.29 and last traded at $192.5660. Approximately 3,019,625 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 10,008,951 shares. The stock had previously closed at $174.20.

ProShares Ultra Silver Stock Performance

The stock’s 50 day simple moving average is $198.02 and its 200 day simple moving average is $121.37.

Hedge Funds Weigh In On ProShares Ultra Silver

Several large investors have recently added to or reduced their stakes in the business. Group One Trading LLC boosted its stake in ProShares Ultra Silver by 53.3% during the 4th quarter. Group One Trading LLC now owns 90,024 shares of the exchange traded fund’s stock valued at $13,965,000 after purchasing an additional 31,313 shares during the last quarter. UBS Group AG bought a new position in shares of ProShares Ultra Silver in the fourth quarter valued at approximately $9,454,000. Jump Financial LLC boosted its position in shares of ProShares Ultra Silver by 678.8% during the fourth quarter. Jump Financial LLC now owns 52,811 shares of the exchange traded fund’s stock valued at $8,192,000 after buying an additional 46,030 shares during the last quarter. Simplex Trading LLC grew its holdings in ProShares Ultra Silver by 2,095.5% during the second quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock worth $2,013,000 after buying an additional 40,464 shares in the last quarter. Finally, Savior LLC grew its holdings in ProShares Ultra Silver by 5.2% during the third quarter. Savior LLC now owns 28,889 shares of the exchange traded fund’s stock worth $2,202,000 after buying an additional 1,419 shares in 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.