ProShares Ultra Silver (NYSEARCA:AGQ) Stock Price Up 8.9% – Time to Buy?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) rose 8.9% during trading on Friday . The stock traded as high as $122.21 and last traded at $122.01. Approximately 1,669,909 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 7,136,426 shares. The stock had previously closed at $112.09.

ProShares Ultra Silver Price Performance

The firm’s fifty day moving average price is $131.53 and its 200 day moving average price is $141.33.

Hedge Funds Weigh In On ProShares Ultra Silver

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC purchased a new position in shares of ProShares Ultra Silver in the fourth quarter worth $31,000. IFP Advisors Inc purchased a new position in shares of ProShares Ultra Silver in the fourth quarter worth $31,000. Spire Wealth Management purchased a new position in shares of ProShares Ultra Silver in the fourth quarter worth $50,000. Farther Finance Advisors LLC purchased a new position in shares of ProShares Ultra Silver in the third quarter worth $35,000. Finally, Caitlin John LLC purchased a new position in shares of ProShares Ultra Silver in the fourth quarter worth $76,000.

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.