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 Wednesday . The stock had previously closed at $80.60, but opened at $85.50. ProShares Ultra Silver shares last traded at $84.73, with a volume of 773,540 shares.

ProShares Ultra Silver Stock Performance

The firm’s 50-day simple moving average is $74.38 and its two-hundred day simple moving average is $102.53.

Institutional Trading of ProShares Ultra Silver

Several hedge funds and other institutional investors have recently modified their holdings of AGQ. UBS Group AG acquired a new position in shares of ProShares Ultra Silver in the fourth quarter worth $9,454,000. Jump Financial LLC boosted its position in ProShares Ultra Silver by 678.8% during the fourth quarter. Jump Financial LLC now owns 52,811 shares of the exchange traded fund’s stock valued at $8,192,000 after purchasing an additional 46,030 shares during the last quarter. Group One Trading LLC boosted its position in ProShares Ultra Silver by 53.3% during the fourth quarter. Group One Trading LLC now owns 90,024 shares of the exchange traded fund’s stock valued at $13,965,000 after purchasing an additional 31,313 shares during the last quarter. HRT Financial LP purchased a new position in ProShares Ultra Silver in the fourth quarter valued at about $2,777,000. Finally, Quadrature Capital Ltd purchased a new position in ProShares Ultra Silver in the fourth quarter valued at about $2,713,000.

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.