ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Up – Here’s Why

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $47.25, but opened at $48.99. ProShares Ultra Silver shares last traded at $48.63, with a volume of 980,630 shares trading hands.

ProShares Ultra Silver Stock Performance

The company has a 50 day simple moving average of $38.59 and a two-hundred day simple moving average of $37.99.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of institutional investors have recently modified their holdings of AGQ. Advisory Alpha LLC purchased a new position in shares of ProShares Ultra Silver during the 2nd quarter valued at approximately $495,000. Beaird Harris Wealth Management LLC acquired a new stake in ProShares Ultra Silver during the second quarter valued at $62,000. Insigneo Advisory Services LLC purchased a new position in ProShares Ultra Silver in the second quarter valued at $918,000. New Harbor Financial Group LLC acquired a new position in shares of ProShares Ultra Silver in the second quarter worth about $321,000. Finally, Keynote Financial Services LLC purchased a new stake in shares of ProShares Ultra Silver during the 1st quarter worth about $817,000.

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.