ProShares Ultra Silver (NYSEARCA:AGQ) Shares Up 19.6% – Should You Buy?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) were up 19.6% during mid-day trading on Tuesday . The stock traded as high as $178.77 and last traded at $177.50. Approximately 4,500,873 shares changed hands during trading, a decline of 61% from the average daily volume of 11,616,934 shares. The stock had previously closed at $148.40.

ProShares Ultra Silver Price Performance

The company’s fifty day moving average price is $189.51 and its 200 day moving average price is $111.23.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Compass Wealth Management LLC acquired a new stake in ProShares Ultra Silver in the third quarter worth approximately $257,000. Clear Harbor Asset Management LLC bought a new stake in shares of ProShares Ultra Silver in the 3rd quarter worth $2,020,000. Brookstone Capital Management acquired a new stake in shares of ProShares Ultra Silver in the third quarter valued at $518,000. SLT Holdings LLC lifted its holdings in shares of ProShares Ultra Silver by 115.0% in the third quarter. SLT Holdings LLC now owns 10,750 shares of the exchange traded fund’s stock valued at $820,000 after buying an additional 5,750 shares during the period. Finally, Csenge Advisory Group boosted its stake in ProShares Ultra Silver by 54.1% during the third quarter. Csenge Advisory Group now owns 7,926 shares of the exchange traded fund’s stock valued at $604,000 after buying an additional 2,783 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.