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

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped up before the market opened on Monday . The stock had previously closed at $162.64, but opened at $182.18. ProShares Ultra Silver shares last traded at $182.99, with a volume of 2,924,260 shares.

ProShares Ultra Silver Trading Down 7.7%

The firm’s fifty day moving average is $118.34 and its 200-day moving average is $81.48.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of large investors have recently modified their holdings of the business. Group One Trading LLC boosted its stake in shares of ProShares Ultra Silver by 1,826.8% in 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 buying an additional 55,664 shares in the last quarter. Simplex Trading LLC lifted its holdings in ProShares Ultra Silver by 2,095.5% in the second quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock valued at $2,013,000 after acquiring an additional 40,464 shares during the period. Clear Harbor Asset Management LLC purchased a new stake in shares of ProShares Ultra Silver during the 3rd quarter worth $2,020,000. EverSource Wealth Advisors LLC purchased a new stake in shares of ProShares Ultra Silver during the 2nd quarter worth $1,019,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of ProShares Ultra Silver during the 2nd quarter worth $492,000.

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.