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

ProShares Ultra Silver (NYSEARCA:AGQ) gapped down before the market opened on Friday . The stock had previously closed at $399.45, but opened at $277.79. ProShares Ultra Silver shares last traded at $278.8110, with a volume of 6,045,959 shares trading hands.

ProShares Ultra Silver Price Performance

The business has a 50-day simple moving average of $185.14 and a two-hundred day simple moving average of $108.90.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. UBS Group AG bought a new stake in ProShares Ultra Silver in the fourth quarter worth about $9,454,000. Group One Trading LLC boosted its position in shares of ProShares Ultra Silver by 1,826.8% during the 3rd quarter. Group One Trading LLC now owns 58,711 shares of the exchange traded fund’s stock valued at $4,476,000 after purchasing an additional 55,664 shares in the last quarter. Simplex Trading LLC grew its stake in shares of ProShares Ultra Silver by 2,095.5% in the 2nd quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock worth $2,013,000 after purchasing an additional 40,464 shares during the last quarter. Clear Harbor Asset Management LLC bought a new stake in shares of ProShares Ultra Silver in the 3rd quarter worth approximately $2,020,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of ProShares Ultra Silver in the 2nd quarter worth approximately $1,019,000.

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.