ProShares Ultra Silver (NYSEARCA:AGQ) Trading Up 8.5% – Still a Buy?

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price rose 8.5% during mid-day trading on Friday . The stock traded as high as $196.92 and last traded at $197.35. Approximately 2,546,045 shares traded hands during trading, a decline of 63% from the average daily volume of 6,898,670 shares. The stock had previously closed at $181.92.

ProShares Ultra Silver Price Performance

The firm has a 50 day moving average price of $124.95 and a two-hundred day moving average price of $84.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Group One Trading LLC increased its position 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 buying an additional 55,664 shares during the period. Simplex Trading LLC boosted its position in ProShares Ultra Silver by 2,095.5% during the second quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock valued at $2,013,000 after acquiring an additional 40,464 shares during the last quarter. Clear Harbor Asset Management LLC bought a new stake in ProShares Ultra Silver during the third quarter valued at $2,020,000. EverSource Wealth Advisors LLC acquired a new stake in ProShares Ultra Silver during the 2nd quarter worth about $1,019,000. Finally, BNP Paribas Financial Markets bought a new position in shares of ProShares Ultra Silver in the 2nd quarter worth about $492,000.

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.