ProShares Ultra Silver (NYSEARCA:AGQ) Trading Down 10.1% – Time to Sell?

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price dropped 10.1% during mid-day trading on Friday . The stock traded as low as $237.04 and last traded at $231.8460. Approximately 3,601,709 shares changed hands during trading, a decline of 55% from the average daily volume of 8,043,792 shares. The stock had previously closed at $257.76.

ProShares Ultra Silver Stock Down 5.7%

The company’s 50 day simple moving average is $141.58 and its 200 day simple moving average is $91.07.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AGQ. Farther Finance Advisors LLC acquired a new stake in shares of ProShares Ultra Silver during the third quarter worth $35,000. Spire Wealth Management bought a new position in ProShares Ultra Silver during the 4th quarter worth about $50,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of ProShares Ultra Silver in the 2nd quarter valued at about $56,000. Blue Trust Inc. raised its stake in shares of ProShares Ultra Silver by 86.7% in the 4th quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock valued at $76,000 after purchasing an additional 228 shares during the period. Finally, Group One Trading LLC bought a new stake in shares of ProShares Ultra Silver in the second quarter valued at about $145,000.

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. 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.