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

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) gapped up before the market opened on Wednesday . The stock had previously closed at $67.53, but opened at $73.34. ProShares Ultra Silver shares last traded at $73.53, with a volume of 1,076,607 shares.

ProShares Ultra Silver Stock Up 9.8%

The business has a 50 day moving average of $78.08 and a two-hundred day moving average of $127.24.

Hedge Funds Weigh In On ProShares Ultra Silver

Several institutional investors and hedge funds have recently modified their holdings of AGQ. Group One Trading LLC boosted its holdings in shares of 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 worth $13,965,000 after buying an additional 31,313 shares during the period. UBS Group AG acquired a new position in ProShares Ultra Silver in the 4th quarter valued at about $9,454,000. Jump Financial LLC raised its holdings in ProShares Ultra Silver by 678.8% in the 4th quarter. Jump Financial LLC now owns 52,811 shares of the exchange traded fund’s stock valued at $8,192,000 after acquiring an additional 46,030 shares during the period. Advisory Alpha LLC raised its holdings in ProShares Ultra Silver by 7.3% in the 4th quarter. Advisory Alpha LLC now owns 22,722 shares of the exchange traded fund’s stock valued at $3,525,000 after acquiring an additional 1,554 shares during the period. Finally, HRT Financial LP acquired a new stake in ProShares Ultra Silver during the fourth quarter worth approximately $2,777,000.

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.