ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Still a Buy?

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped up prior to trading on Monday . The stock had previously closed at $37.34, but opened at $38.96. ProShares Ultra Silver shares last traded at $39.28, with a volume of 583,337 shares traded.

ProShares Ultra Silver Price Performance

The stock has a fifty day moving average price of $41.46 and a 200 day moving average price of $39.02.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Hollencrest Capital Management boosted its position in ProShares Ultra Silver by 8.5% during the 3rd quarter. Hollencrest Capital Management now owns 5,041 shares of the exchange traded fund’s stock valued at $204,000 after acquiring an additional 395 shares in the last quarter. International Assets Investment Management LLC raised its stake in ProShares Ultra Silver by 3,943.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,294 shares of the exchange traded fund’s stock valued at $52,000 after buying an additional 1,262 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in ProShares Ultra Silver during the 3rd quarter valued at $61,000. Beaird Harris Wealth Management LLC purchased a new stake in ProShares Ultra Silver during the 2nd quarter valued at $62,000. Finally, HighTower Advisors LLC purchased a new stake in shares of ProShares Ultra Silver in the 3rd quarter worth $292,000.

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.