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

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped up prior to trading on Monday . The stock had previously closed at $147.33, but opened at $154.48. ProShares Ultra Silver shares last traded at $153.6180, with a volume of 654,787 shares changing hands.

ProShares Ultra Silver Price Performance

The company has a 50-day simple moving average of $100.31 and a two-hundred day simple moving average of $72.66.

Institutional Trading of ProShares Ultra Silver

Institutional investors have recently modified their holdings of the company. 180 Wealth Advisors LLC raised its position in ProShares Ultra Silver by 4.9% during the 3rd quarter. 180 Wealth Advisors LLC now owns 5,908 shares of the exchange traded fund’s stock valued at $450,000 after purchasing an additional 278 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of ProShares Ultra Silver by 8.9% during the second quarter. Osaic Holdings Inc. now owns 4,220 shares of the exchange traded fund’s stock valued at $200,000 after acquiring an additional 345 shares in the last quarter. Farther Finance Advisors LLC bought a new position in shares of ProShares Ultra Silver during the third quarter valued at approximately $35,000. Hollencrest Capital Management lifted its stake in ProShares Ultra Silver by 12.4% in the third 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 period. Finally, Steward Partners Investment Advisory LLC bought a new stake in ProShares Ultra Silver in the second quarter valued at $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. 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.