ProShares Ultra Silver (NYSEARCA:AGQ) Stock Price Up 6% – Still a Buy?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) were up 6% on Thursday . The company traded as high as $46.40 and last traded at $47.13. Approximately 933,928 shares were traded during trading, a decline of 48% from the average daily volume of 1,782,980 shares. The stock had previously closed at $44.47.

ProShares Ultra Silver Stock Down 3.1 %

The stock’s fifty day moving average price is $41.71 and its 200-day moving average price is $40.37.

Hedge Funds Weigh In On ProShares Ultra Silver

Several hedge funds have recently added to or reduced their stakes in the business. Flow Traders U.S. LLC acquired a new position in shares of ProShares Ultra Silver in the third quarter valued at approximately $359,000. HighTower Advisors LLC purchased a new position in shares of ProShares Ultra Silver in the 3rd quarter valued at $292,000. Quadrature Capital Ltd acquired a new position in shares of ProShares Ultra Silver during the third quarter worth about $2,566,000. JPMorgan Chase & Co. acquired a new position in ProShares Ultra Silver during the 3rd quarter worth approximately $110,000. Finally, Advisory Alpha LLC grew its position in ProShares Ultra Silver by 1.9% in the fourth quarter. Advisory Alpha LLC now owns 18,091 shares of the exchange traded fund’s stock valued at $609,000 after acquiring an additional 341 shares in the last quarter.

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.