ProShares Ultra Silver (NYSEARCA:AGQ) Shares Up 7.9% – Time to Buy?

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price shot up 7.9% during mid-day trading on Thursday . The company traded as high as $41.58 and last traded at $41.85. 1,241,475 shares traded hands 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 Trading Up 6.9 %

The firm’s fifty day moving average is $37.47 and its 200-day moving average is $38.31.

Hedge Funds Weigh In On ProShares Ultra Silver

Several institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd bought a new stake in shares of ProShares Ultra Silver during the third quarter worth $2,566,000. Advisory Alpha LLC grew its position in shares of ProShares Ultra Silver by 1.9% during the 4th quarter. Advisory Alpha LLC now owns 18,091 shares of the exchange traded fund’s stock worth $609,000 after buying an additional 341 shares during the period. Fiduciary Family Office LLC bought a new stake in shares of ProShares Ultra Silver during the fourth quarter worth approximately $324,000. Flow Traders U.S. LLC bought a new stake in shares of ProShares Ultra Silver during the third quarter worth approximately $359,000. Finally, HighTower Advisors LLC acquired a new position in ProShares Ultra Silver in the third quarter valued at approximately $292,000.

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.