ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Time to Buy?

ProShares Ultra Silver (NYSEARCA:AGQ) gapped up before the market opened on Tuesday . The stock had previously closed at $166.43, but opened at $183.53. ProShares Ultra Silver shares last traded at $181.5060, with a volume of 2,780,975 shares trading hands.

ProShares Ultra Silver Stock Performance

The firm has a 50 day moving average price of $106.91 and a 200-day moving average price of $76.22.

Institutional Trading of ProShares Ultra Silver

A number of institutional investors and hedge funds have recently modified their holdings of AGQ. Mercer Global Advisors Inc. ADV acquired a new position in ProShares Ultra Silver in the 3rd quarter valued at $301,000. Flow Traders U.S. LLC acquired a new stake in shares of ProShares Ultra Silver in the third quarter valued at about $665,000. Advisory Alpha LLC increased its stake in shares of ProShares Ultra Silver by 10.1% in the third quarter. Advisory Alpha LLC now owns 21,168 shares of the exchange traded fund’s stock worth $1,608,000 after purchasing an additional 1,938 shares during the period. Group One Trading LLC lifted its position in shares of ProShares Ultra Silver by 1,826.8% during the 3rd quarter. Group One Trading LLC now owns 58,711 shares of the exchange traded fund’s stock worth $4,476,000 after purchasing an additional 55,664 shares during the last quarter. Finally, Integrated Advisors Network LLC bought a new stake in ProShares Ultra Silver during the 3rd quarter valued at approximately $687,000.

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.