ProShares Ultra Silver (NYSEARCA:AGQ) Sees Large Volume Increase – Still a Buy?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) saw strong trading volume on Friday . 959,671 shares traded hands during mid-day trading, a decline of 19% from the previous session’s volume of 1,186,667 shares.The stock last traded at $39.13 and had previously closed at $37.15.

ProShares Ultra Silver Trading Up 3.8 %

The business’s 50-day moving average price is $38.07 and its 200 day moving average price is $38.48.

Hedge Funds Weigh In On ProShares Ultra Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd bought a new position in shares of ProShares Ultra Silver in the 3rd quarter worth $2,566,000. Insigneo Advisory Services LLC purchased a new stake in ProShares Ultra Silver during the second quarter valued at about $918,000. Advisory Alpha LLC bought a new stake in ProShares Ultra Silver during the second quarter worth about $495,000. Flow Traders U.S. LLC purchased a new position in shares of ProShares Ultra Silver in the 3rd quarter worth about $359,000. Finally, HighTower Advisors LLC bought a new position in shares of ProShares Ultra Silver during the 3rd quarter valued at about $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.