ProShares Ultra Silver (NYSEARCA:AGQ) Hits New 1-Year Low – Should You Sell?

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $55.77 and last traded at $56.20, with a volume of 4,313,779 shares trading hands. The stock had previously closed at $64.12.

ProShares Ultra Silver Stock Performance

The company has a 50 day simple moving average of $76.34 and a two-hundred day simple moving average of $89.73.

Institutional Investors Weigh In On ProShares Ultra Silver

Several institutional investors and hedge funds have recently modified their holdings of AGQ. TB Alternative Assets Ltd. purchased a new position in shares of ProShares Ultra Silver during the third quarter worth about $7,962,000. Bullseye Investment Management LLC acquired a new stake in ProShares Ultra Silver during the second quarter valued at approximately $69,000. Strategic Investment Solutions Inc. IL raised its position in shares of ProShares Ultra Silver by 223.0% during the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 617 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 426 shares during the period. NewEdge Advisors LLC grew its position in ProShares Ultra Silver by 110.3% in the 1st quarter. NewEdge Advisors LLC now owns 2,723 shares of the exchange traded fund’s stock valued at $325,000 after buying an additional 1,428 shares in the last quarter. Finally, Vestor Capital LLC acquired a new stake in ProShares Ultra Silver during the first quarter valued at approximately $598,000.

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.