ProShares Ultra Silver (AGQ)
AGQ Price and Sentiment
AGQ Latest news
Silver has reached an inflection point in October, where a sharp bullish turn may become reality. COT positioning and seasonal factors should push silver prices higher.
We expected a move lower in PSLV the last time we covered it.
Inflation decreases purchasing power. It also increases the expenses of most companies.
The ProShares Ultra Silver ETF takes leveraged (2×) positions in silver futures contracts and has the potential to outperform the S&P 500 in the medium term.
Silver futures and ETFs are gaining on Monday, as investors swoop in to buy at perceived bargains following significant losses last week. According to experts, there has also been some chart-based buying on technical analysis levels.
Over the last several days, the daily fund flows into SLV have spiked. I think the vast majority of buying activity was from traditional gold and silver investors.
Silver has become a hot precious metal. But silver is also a commodity. The business cycle will help you decide its attractiveness.
Silver surged on Monday as traders on the popular WallStreetBets subreddit piled into the metal. Seeking their next target after GameStop, some Redditors believe the metal will be the next big short squeeze.
AGQ is an ETF which is giving leveraged exposure to silver futures – investors must be aware of leverage decay concerns as well as futures convergence. While the short-term technical picture is unconvincing, the medium term-data suggests silver is headed higher.