ProShares Ultra Silver (NYSEARCA:AGQ) Trading 7.9% Higher – Should You Buy?

ProShares Ultra Silver (NYSEARCA:AGQ) shares shot up 7.9% during mid-day trading on Thursday . The stock traded as high as $41.58 and last traded at $41.85. Approximately 1,241,475 shares were traded during trading, a decline of 28% from the average session volume of 1,719,802 shares. The stock had previously closed at $38.80.

ProShares Ultra Silver Stock Performance

The stock has a fifty day moving average price of $37.54 and a 200 day moving average price of $38.33.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of institutional investors have recently modified their holdings of the company. HighTower Advisors LLC acquired a new position in shares of ProShares Ultra Silver during the third quarter worth approximately $292,000. Quadrature Capital Ltd acquired a new position in ProShares Ultra Silver during the 3rd quarter valued at $2,566,000. International Assets Investment Management LLC boosted its holdings in ProShares Ultra Silver by 3,943.8% in 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 purchasing an additional 1,262 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in ProShares Ultra Silver in the 3rd quarter worth $61,000. Finally, Fiduciary Family Office LLC acquired a new stake in ProShares Ultra Silver in the 4th quarter worth $324,000.

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.