ProShares Ultra Silver (NYSEARCA:AGQ) Sees Large Volume Increase – Still a Buy?

ProShares Ultra Silver (NYSEARCA:AGQ) saw an uptick in trading volume on Friday . 4,518,491 shares traded hands during mid-day trading, an increase of 97% from the previous session’s volume of 2,293,905 shares.The stock last traded at $124.7190 and had previously closed at $133.40.

ProShares Ultra Silver Trading Down 6.0%

The stock’s 50-day simple moving average is $91.48 and its two-hundred day simple moving average is $67.49.

Institutional Investors Weigh In On ProShares Ultra Silver

Several institutional investors have recently bought and sold shares of AGQ. HighTower Advisors LLC purchased a new stake in ProShares Ultra Silver during the 1st quarter worth approximately $219,000. Flow Traders U.S. LLC purchased a new stake in shares of ProShares Ultra Silver during the first quarter worth approximately $1,176,000. Everstar Asset Management LLC acquired a new position in ProShares Ultra Silver in the 1st quarter valued at $866,000. Faithward Advisors LLC acquired a new position in ProShares Ultra Silver in the 1st quarter valued at $252,000. Finally, Advisory Alpha LLC lifted its holdings in ProShares Ultra Silver by 8.4% in the 1st quarter. Advisory Alpha LLC now owns 19,611 shares of the exchange traded fund’s stock valued at $905,000 after purchasing an additional 1,520 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.