ProShares Ultra Silver (NYSEARCA:AGQ) Hits New 12-Month High – Here’s Why

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) hit a new 52-week high on Wednesday . The company traded as high as $166.74 and last traded at $165.98, with a volume of 5540412 shares changing hands. The stock had previously closed at $153.64.

ProShares Ultra Silver Stock Up 1.0%

The firm’s 50-day moving average price is $103.17 and its 200-day moving average price is $73.98.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Group One Trading LLC lifted its stake in shares of ProShares Ultra Silver by 1,826.8% during the third quarter. Group One Trading LLC now owns 58,711 shares of the exchange traded fund’s stock worth $4,476,000 after purchasing an additional 55,664 shares in the last quarter. Simplex Trading LLC grew its stake in shares of ProShares Ultra Silver by 2,095.5% in the second quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock valued at $2,013,000 after buying an additional 40,464 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new stake in shares of ProShares Ultra Silver during the 3rd quarter valued at about $2,020,000. EverSource Wealth Advisors LLC acquired a new position in ProShares Ultra Silver during the 2nd quarter worth approximately $1,019,000. Finally, Everstar Asset Management LLC acquired a new position in ProShares Ultra Silver during the 1st quarter worth approximately $866,000.

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. The benchmark price of silver will be the United States dollar price of silver bullion as measured by the London fixing price per troy ounce of unallocated silver bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery.