ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Down – Time to Sell?

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $266.56, but opened at $241.74. ProShares Ultra Silver shares last traded at $250.0440, with a volume of 2,735,119 shares changing hands.

ProShares Ultra Silver Trading Down 4.0%

The firm has a fifty day simple moving average of $134.71 and a 200-day simple moving average of $88.23.

Institutional Trading of ProShares Ultra Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGQ. Clear Harbor Asset Management LLC bought a new position in ProShares Ultra Silver in the third quarter valued at approximately $2,020,000. Brookstone Capital Management bought a new position in shares of ProShares Ultra Silver during the 3rd quarter valued at about $518,000. SLT Holdings LLC grew its position in shares of ProShares Ultra Silver by 115.0% in the 3rd quarter. SLT Holdings LLC now owns 10,750 shares of the exchange traded fund’s stock valued at $820,000 after purchasing an additional 5,750 shares during the period. EverSource Wealth Advisors LLC bought a new stake in ProShares Ultra Silver during the 2nd quarter worth approximately $1,019,000. Finally, Savior LLC raised its holdings in ProShares Ultra Silver by 7.6% during the 2nd quarter. Savior LLC now owns 27,470 shares of the exchange traded fund’s stock worth $1,305,000 after buying an additional 1,947 shares during the period.

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. The benchmark price of silver will be the United States dollar price of silver bullion as measured by the London fixing price per troy ounce of unallocated silver bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery.