ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – What’s Next?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) gapped up before the market opened on Tuesday . The stock had previously closed at $61.02, but opened at $65.58. ProShares Ultra Silver shares last traded at $65.46, with a volume of 646,072 shares trading hands.

ProShares Ultra Silver Stock Up 3.2%

The firm has a 50 day moving average price of $87.90 and a 200-day moving average price of $136.06.

Institutional Trading of ProShares Ultra Silver

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC purchased a new position in ProShares Ultra Silver during the fourth quarter worth $31,000. IFP Advisors Inc bought a new position in ProShares Ultra Silver during the fourth quarter valued at $31,000. Strategic Investment Solutions Inc. IL raised its stake in shares of ProShares Ultra Silver by 223.0% in the second quarter. Strategic Investment Solutions Inc. IL now owns 617 shares of the exchange traded fund’s stock valued at $42,000 after acquiring an additional 426 shares during the period. Spire Wealth Management purchased a new stake in shares of ProShares Ultra Silver in the fourth quarter valued at $50,000. Finally, Blue Trust Inc. lifted its holdings in shares of ProShares Ultra Silver by 86.7% in the 4th quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock worth $76,000 after acquiring an additional 228 shares during the last quarter.

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.