ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Time to Buy?

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $40.11, but opened at $41.56. ProShares Ultra Silver shares last traded at $41.90, with a volume of 729,768 shares traded.

ProShares Ultra Silver Stock Performance

The company’s 50-day moving average price is $39.82 and its 200-day moving average price is $39.59.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Flow Traders U.S. LLC acquired a new position in ProShares Ultra Silver during the third quarter worth about $359,000. HighTower Advisors LLC purchased a new position in ProShares Ultra Silver in the 3rd quarter valued at approximately $292,000. Quadrature Capital Ltd acquired a new position in ProShares Ultra Silver during the third quarter worth $2,566,000. JPMorgan Chase & Co. purchased a new stake in ProShares Ultra Silver during the third quarter worth $110,000. Finally, Advisory Alpha LLC grew its holdings in 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 valued at $609,000 after purchasing an additional 341 shares during the last quarter.

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.