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

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) gapped up before the market opened on Wednesday . The stock had previously closed at $37.38, but opened at $38.70. ProShares Ultra Silver shares last traded at $39.25, with a volume of 938,275 shares trading hands.

ProShares Ultra Silver Stock Up 3.0 %

The business’s 50 day simple moving average is $37.47 and its 200 day simple moving average is $38.31.

Institutional Investors Weigh In On ProShares Ultra Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGQ. International Assets Investment Management LLC boosted its position in shares of ProShares Ultra Silver by 3,943.8% during the third quarter. International Assets Investment Management LLC now owns 1,294 shares of the exchange traded fund’s stock valued at $52,000 after buying an additional 1,262 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of ProShares Ultra Silver during the 3rd quarter worth approximately $61,000. JPMorgan Chase & Co. purchased a new position in ProShares Ultra Silver during the 3rd quarter valued at $110,000. Hollencrest Capital Management grew its position in ProShares Ultra Silver by 8.5% in the 3rd quarter. Hollencrest Capital Management now owns 5,041 shares of the exchange traded fund’s stock valued at $204,000 after acquiring an additional 395 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new stake in ProShares Ultra Silver in the third quarter worth $292,000.

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.