For investors seeking momentum, ProShares Ultra Silver AGQ is probably on the radar. The fund just hit a 52-week high and is up 616.7% from its 52-week low price of $31.88/share.
But are there more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
AGQ in Focus
The ProShares Ultra Silver seeks daily investment results, before fees and expenses, that correspond to two times the daily performance of the Bloomberg Silver Subindex. The product charges 95 bps in annual fees (See: all Leveraged Commodity ETFs here).
Why the Move?
Silver prices have been climbing to fresh highs, supported by supply constraints and increasing use in solar power and electric vehicle applications. Often considered an industrial metal, silver plays a critical role in modern technology and clean energy solutions.
Additionally, expectations of interest rate cuts in 2026 bode well for the precious metal. The greenback's value tends to move inversely with interest rate adjustments by the Fed. A subdued greenback is also a favorable factor for silver.
More Gains Ahead?
AGQ might continue its strong performance in the near term, with a positive weighted alpha of 560.27 (as per Barchart.com), which gives cues of a further rally.
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ProShares Ultra Silver (AGQ): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).
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