ProShares Ultra Silver (NYSEARCA:AGQ) Hits New 52-Week High – Time to Buy?

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price hit a new 52-week high on Monday . The stock traded as high as $368.19 and last traded at $371.9020, with a volume of 2619242 shares changing hands. The stock had previously closed at $319.85.

ProShares Ultra Silver Stock Up 19.8%

The firm’s 50-day simple moving average is $160.05 and its 200 day simple moving average is $99.31.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Clear Harbor Asset Management LLC bought a new stake in ProShares Ultra Silver during the third quarter worth approximately $2,020,000. Brookstone Capital Management acquired a new stake in shares of ProShares Ultra Silver during the 3rd quarter valued at $518,000. SLT Holdings LLC boosted its stake in shares of ProShares Ultra Silver by 115.0% during the 3rd quarter. SLT Holdings LLC now owns 10,750 shares of the exchange traded fund’s stock worth $820,000 after acquiring an additional 5,750 shares in the last quarter. Csenge Advisory Group grew its holdings in shares of ProShares Ultra Silver by 54.1% in the 3rd quarter. Csenge Advisory Group now owns 7,926 shares of the exchange traded fund’s stock worth $604,000 after acquiring an additional 2,783 shares during the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of ProShares Ultra Silver in the 2nd quarter worth $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.