ProShares Ultra Silver (NYSEARCA:AGQ) Trading Down 10.1% – Should You Sell?

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price dropped 10.1% during mid-day trading on Friday . The stock traded as low as $237.04 and last traded at $231.8460. Approximately 3,601,709 shares traded hands during trading, a decline of 55% from the average daily volume of 8,043,792 shares. The stock had previously closed at $257.76.

ProShares Ultra Silver Stock Performance

The firm has a 50 day simple moving average of $138.30 and a two-hundred day simple moving average of $89.40.

Institutional Investors Weigh In On ProShares Ultra Silver

Institutional investors have recently added to or reduced their stakes in the company. Group One Trading LLC lifted 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 worth $4,476,000 after buying an additional 55,664 shares in the last quarter. Simplex Trading LLC increased its position in shares of ProShares Ultra Silver by 2,095.5% during the second quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock valued at $2,013,000 after acquiring an additional 40,464 shares during the last quarter. Savior LLC grew its stake in ProShares Ultra Silver by 5.2% in the 3rd quarter. Savior LLC now owns 28,889 shares of the exchange traded fund’s stock valued at $2,202,000 after purchasing an additional 1,419 shares during the period. Clear Harbor Asset Management LLC bought a new position in ProShares Ultra Silver in the 3rd quarter valued at $2,020,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of ProShares Ultra Silver during the 2nd quarter valued at $1,019,000.

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.