ProShares Ultra Silver (NYSEARCA:AGQ) Hits New 1-Year High – Still a Buy?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) hit a new 52-week high on Tuesday . The stock traded as high as $274.71 and last traded at $273.0530, with a volume of 2361206 shares changing hands. The stock had previously closed at $243.16.

ProShares Ultra Silver Price Performance

The business’s fifty day simple moving average is $151.61 and its 200-day simple moving average is $95.44.

Institutional Trading of ProShares Ultra Silver

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC purchased a new position in shares of ProShares Ultra Silver during the 4th quarter worth approximately $31,000. Genesis Financial Group LLC purchased a new stake in ProShares Ultra Silver in the fourth quarter worth $3,258,000. Blue Trust Inc. raised its holdings in ProShares Ultra Silver by 86.7% in the fourth quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock worth $76,000 after purchasing an additional 228 shares in the last quarter. Spire Wealth Management purchased a new position in ProShares Ultra Silver during the fourth quarter valued at $50,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of ProShares Ultra Silver during the 4th quarter valued at $376,000.

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.