ProShares Ultra Silver (NYSEARCA:AGQ) Shares Up 4.6% – Still a Buy?

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price rose 4.6% during trading on Friday . The company traded as high as $100.38 and last traded at $99.64. Approximately 1,746,482 shares were traded during trading, a decline of 80% from the average daily volume of 8,667,930 shares. The stock had previously closed at $95.27.

ProShares Ultra Silver Price Performance

The business has a 50 day simple moving average of $178.31 and a 200-day simple moving average of $133.01.

Hedge Funds Weigh In On ProShares Ultra Silver

Institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV increased its holdings in ProShares Ultra Silver by 9.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,315 shares of the exchange traded fund’s stock worth $670,000 after buying an additional 365 shares during the last quarter. Caitlin John LLC purchased a new position in ProShares Ultra Silver in the fourth quarter valued at about $76,000. NewEdge Advisors LLC purchased a new position in ProShares Ultra Silver in the fourth quarter valued at about $201,000. XTX Topco Ltd bought a new position in shares of ProShares Ultra Silver during the 4th quarter valued at approximately $993,000. Finally, Quadrature Capital Ltd bought a new position in shares of ProShares Ultra Silver during the 4th quarter valued at approximately $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.