ProShares Ultra Silver (NYSEARCA:AGQ) Trading Up 6.1% – Still a Buy?

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price were up 6.1% on Monday . The stock traded as high as $114.57 and last traded at $113.8390. Approximately 2,963,442 shares were traded during trading, an increase of 34% from the average daily volume of 2,216,552 shares. The stock had previously closed at $107.32.

ProShares Ultra Silver Price Performance

The stock’s 50-day simple moving average is $82.59 and its 200-day simple moving average is $62.20.

Institutional Trading of ProShares Ultra Silver

Institutional investors and hedge funds have recently modified their holdings of the business. 180 Wealth Advisors LLC increased its position in ProShares Ultra Silver by 4.9% in the third quarter. 180 Wealth Advisors LLC now owns 5,908 shares of the exchange traded fund’s stock worth $450,000 after buying an additional 278 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of ProShares Ultra Silver by 8.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,220 shares of the exchange traded fund’s stock worth $200,000 after acquiring an additional 345 shares during the period. Farther Finance Advisors LLC purchased a new stake in ProShares Ultra Silver in the 3rd quarter worth about $35,000. Hollencrest Capital Management increased its holdings in ProShares Ultra Silver by 12.4% in the 3rd quarter. Hollencrest Capital Management now owns 5,912 shares of the exchange traded fund’s stock worth $451,000 after acquiring an additional 650 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in ProShares Ultra Silver in the 2nd quarter valued at about $56,000.

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.