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

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) gapped up before the market opened on Tuesday . The stock had previously closed at $162.06, but opened at $172.79. ProShares Ultra Silver shares last traded at $169.34, with a volume of 1,191,733 shares trading hands.

ProShares Ultra Silver Stock Down 5.7%

The stock’s fifty day simple moving average is $197.03 and its 200 day simple moving average is $128.78.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Foundations Investment Advisors LLC acquired a new stake in ProShares Ultra Silver in the second quarter valued at approximately $237,000. Steward Partners Investment Advisory LLC acquired a new position in shares of ProShares Ultra Silver during the second quarter worth $56,000. EverSource Wealth Advisors LLC purchased a new stake in shares of ProShares Ultra Silver during the 2nd quarter valued at $1,019,000. BNP Paribas Financial Markets purchased a new stake in shares of ProShares Ultra Silver during the 2nd quarter valued at $492,000. Finally, Group One Trading LLC acquired a new stake in shares of ProShares Ultra Silver in the 2nd quarter worth $145,000.

ProShares Ultra Silver Company Profile

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.