ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Time to Buy?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) gapped up prior to trading on Tuesday . The stock had previously closed at $61.02, but opened at $65.58. ProShares Ultra Silver shares last traded at $65.46, with a volume of 646,072 shares changing hands.

ProShares Ultra Silver Trading Up 8.8%

The company has a 50-day moving average of $91.44 and a 200-day moving average of $137.30.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of hedge funds have recently bought and sold shares of AGQ. Signaturefd LLC bought a new stake in shares of ProShares Ultra Silver in the 4th quarter worth $31,000. IFP Advisors Inc bought a new position in shares of ProShares Ultra Silver during the fourth quarter valued at about $31,000. Spire Wealth Management bought a new position in shares of ProShares Ultra Silver during the fourth quarter valued at about $50,000. Caitlin John LLC bought a new position in shares of ProShares Ultra Silver during the fourth quarter valued at about $76,000. Finally, Blue Trust Inc. boosted its holdings in ProShares Ultra Silver by 86.7% during the fourth quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock worth $76,000 after purchasing an additional 228 shares during 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.