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

ProShares Ultra Silver (NYSEARCA:AGQ) gapped down prior to trading on Thursday . The stock had previously closed at $42.30, but opened at $40.84. ProShares Ultra Silver shares last traded at $40.46, with a volume of 742,182 shares changing hands.

ProShares Ultra Silver Price Performance

The firm has a 50-day simple moving average of $41.18 and a two-hundred day simple moving average of $39.07.

Institutional Investors Weigh In On ProShares Ultra Silver

A number of hedge funds have recently bought and sold shares of AGQ. International Assets Investment Management LLC increased its holdings in ProShares Ultra Silver by 3,943.8% in the third quarter. International Assets Investment Management LLC now owns 1,294 shares of the exchange traded fund’s stock valued at $52,000 after buying an additional 1,262 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of ProShares Ultra Silver during the 3rd quarter worth about $61,000. Beaird Harris Wealth Management LLC purchased a new stake in ProShares Ultra Silver during the second quarter worth approximately $62,000. Hollencrest Capital Management boosted its holdings in ProShares Ultra Silver by 8.5% in the third quarter. Hollencrest Capital Management now owns 5,041 shares of the exchange traded fund’s stock valued at $204,000 after purchasing an additional 395 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in ProShares Ultra Silver in the third quarter valued at approximately $292,000.

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.