ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Down – Should You Sell?

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped down prior to trading on Wednesday. The stock had previously closed at $69.30, but opened at $65.30. ProShares Ultra Silver shares last traded at $65.20, with a volume of 1,162,587 shares trading hands.

ProShares Ultra Silver Stock Down 4.8%

The firm’s fifty day moving average is $77.25 and its 200 day moving average is $91.92.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Hoey Investments Inc. boosted its holdings in ProShares Ultra Silver by 767.4% in the 1st quarter. Hoey Investments Inc. now owns 9,099 shares of the exchange traded fund’s stock worth $1,087,000 after buying an additional 8,050 shares during the last quarter. Sovereign Financial Group Inc. purchased a new stake in ProShares Ultra Silver during the 1st quarter worth approximately $204,000. Bullseye Investment Management LLC acquired a new position in shares of ProShares Ultra Silver during the second quarter valued at approximately $69,000. Strategic Investment Solutions Inc. IL raised its holdings in shares of ProShares Ultra Silver by 223.0% during the second quarter. Strategic Investment Solutions Inc. IL now owns 617 shares of the exchange traded fund’s stock valued at $42,000 after acquiring an additional 426 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of ProShares Ultra Silver by 110.3% in the first quarter. NewEdge Advisors LLC now owns 2,723 shares of the exchange traded fund’s stock valued at $325,000 after acquiring an additional 1,428 shares in the last quarter.

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.