ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Here’s Why

ProShares Ultra Silver (NYSEARCA:AGQ) shares gapped up before the market opened on Friday . The stock had previously closed at $36.89, but opened at $38.32. ProShares Ultra Silver shares last traded at $37.92, with a volume of 277,995 shares trading hands.

ProShares Ultra Silver Stock Up 3.4 %

The business’s 50 day moving average price is $41.65 and its 200-day moving average price is $39.22.

Institutional Trading of ProShares Ultra Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd acquired a new position in shares of ProShares Ultra Silver in the 3rd quarter valued at $2,566,000. HighTower Advisors LLC bought a new stake in ProShares Ultra Silver in the third quarter valued at about $292,000. Flow Traders U.S. LLC acquired a new position in ProShares Ultra Silver in the third quarter valued at about $359,000. Hollencrest Capital Management boosted its holdings in ProShares Ultra Silver by 8.5% during the third quarter. Hollencrest Capital Management now owns 5,041 shares of the exchange traded fund’s stock worth $204,000 after buying an additional 395 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of ProShares Ultra Silver during the 3rd quarter worth about $61,000.

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.