ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Here’s What Happened

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) gapped up before the market opened on Monday . The stock had previously closed at $90.68, but opened at $99.54. ProShares Ultra Silver shares last traded at $99.23, with a volume of 731,385 shares.

ProShares Ultra Silver Stock Performance

The stock’s 50-day moving average is $117.15 and its 200-day moving average is $148.51.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Compass Wealth Management LLC bought a new stake in ProShares Ultra Silver in the 3rd quarter valued at $257,000. Genesis Financial Group LLC acquired a new stake in ProShares Ultra Silver during the fourth quarter valued at approximately $3,258,000. UBS Group AG acquired a new stake in ProShares Ultra Silver during the fourth quarter valued at approximately $9,454,000. Group One Trading LLC boosted its holdings in ProShares Ultra Silver by 1,826.8% during the third quarter. Group One Trading LLC now owns 58,711 shares of the exchange traded fund’s stock valued at $4,476,000 after purchasing an additional 55,664 shares in the last quarter. Finally, Integrated Advisors Network LLC acquired a new stake in ProShares Ultra Silver during the third quarter valued at approximately $687,000.

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.