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

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $42.81, but opened at $44.54. ProShares Ultra Silver shares last traded at $44.81, with a volume of 595,925 shares trading hands.

ProShares Ultra Silver Price Performance

The company has a 50 day simple moving average of $41.10 and a 200-day simple moving average of $40.12.

Institutional Trading of ProShares Ultra Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Flow Traders U.S. LLC purchased a new position in ProShares Ultra Silver during the third quarter valued at approximately $359,000. HighTower Advisors LLC bought a new position in ProShares Ultra Silver in the 3rd quarter valued at $292,000. Quadrature Capital Ltd purchased a new position in shares of ProShares Ultra Silver during the 3rd quarter valued at $2,566,000. JPMorgan Chase & Co. bought a new position in shares of ProShares Ultra Silver in the third quarter worth $110,000. Finally, Advisory Alpha LLC increased its holdings in shares of ProShares Ultra Silver by 1.9% in the fourth quarter. Advisory Alpha LLC now owns 18,091 shares of the exchange traded fund’s stock worth $609,000 after purchasing an additional 341 shares during the period.

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.