ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Still a Buy?

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $36.37, but opened at $37.64. ProShares Ultra Silver shares last traded at $37.49, with a volume of 339,502 shares trading hands.

ProShares Ultra Silver Stock Up 0.7 %

The stock has a 50 day simple moving average of $38.20 and a two-hundred day simple moving average of $38.49.

Institutional Trading of ProShares Ultra Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Insigneo Advisory Services LLC purchased a new stake in ProShares Ultra Silver in the 2nd quarter valued at $918,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of ProShares Ultra Silver in the second quarter valued at about $62,000. Advisory Alpha LLC purchased a new stake in shares of ProShares Ultra Silver in the second quarter valued at about $495,000. International Assets Investment Management LLC boosted its stake in shares of ProShares Ultra Silver by 3,943.8% during the third quarter. International Assets Investment Management LLC now owns 1,294 shares of the exchange traded fund’s stock worth $52,000 after buying an additional 1,262 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of ProShares Ultra Silver during the third quarter worth about $61,000.

ProShares Ultra Silver Company Profile

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.