ProShares Ultra Silver (NYSEARCA:AGQ) Trading Down 9.9% – Should You Sell?

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price dropped 9.9% during mid-day trading on Wednesday . The company traded as low as $160.81 and last traded at $164.1340. Approximately 2,924,378 shares changed hands during mid-day trading, an increase of 19% from the average daily volume of 2,463,456 shares. The stock had previously closed at $182.16.

ProShares Ultra Silver Stock Performance

The business has a 50-day moving average price of $112.00 and a 200 day moving average price of $78.24.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. 180 Wealth Advisors LLC raised its position in shares of ProShares Ultra Silver by 4.9% in the third quarter. 180 Wealth Advisors LLC now owns 5,908 shares of the exchange traded fund’s stock valued at $450,000 after purchasing an additional 278 shares during the period. Osaic Holdings Inc. grew its stake in ProShares Ultra Silver by 8.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,220 shares of the exchange traded fund’s stock valued at $200,000 after buying an additional 345 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in ProShares Ultra Silver during the 3rd quarter valued at $35,000. Hollencrest Capital Management lifted its position in shares of ProShares Ultra Silver by 12.4% during the third quarter. Hollencrest Capital Management now owns 5,912 shares of the exchange traded fund’s stock worth $451,000 after acquiring an additional 650 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of ProShares Ultra Silver during the second quarter worth $56,000.

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. 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.