ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Should You Buy?

ProShares Ultra Silver (NYSEARCA:AGQ) shares gapped up prior to trading on Monday . The stock had previously closed at $125.40, but opened at $132.65. ProShares Ultra Silver shares last traded at $130.8920, with a volume of 772,358 shares changing hands.

ProShares Ultra Silver Price Performance

The stock’s 50-day simple moving average is $93.61 and its 200 day simple moving average is $68.98.

Hedge Funds Weigh In On ProShares Ultra Silver

Large investors have recently made changes to their positions in the stock. Group One Trading LLC lifted its stake in 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 acquiring an additional 55,664 shares in the last quarter. Simplex Trading LLC increased its stake in ProShares Ultra Silver by 2,095.5% during the second quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock worth $2,013,000 after purchasing an additional 40,464 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in shares of ProShares Ultra Silver during the third quarter worth about $2,020,000. Flow Traders U.S. LLC acquired a new stake in shares of ProShares Ultra Silver during the first quarter worth about $1,176,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of ProShares Ultra Silver in the second quarter valued at approximately $1,019,000.

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.