ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Down – Should You Sell?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) gapped down before the market opened on Wednesday . The stock had previously closed at $134.43, but opened at $126.28. ProShares Ultra Silver shares last traded at $127.19, with a volume of 1,958,736 shares traded.

ProShares Ultra Silver Stock Down 5.9%

The firm has a fifty day moving average of $194.32 and a 200 day moving average of $131.76.

Hedge Funds Weigh In On ProShares Ultra Silver

Hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC acquired a new stake in ProShares Ultra Silver during the 4th quarter worth $31,000. IFP Advisors Inc purchased a new stake in ProShares Ultra Silver in the fourth quarter valued at approximately $31,000. Spire Wealth Management purchased a new position in shares of ProShares Ultra Silver during the fourth quarter worth approximately $50,000. Farther Finance Advisors LLC acquired a new position in shares of ProShares Ultra Silver in the 3rd quarter valued at $35,000. Finally, Caitlin John LLC purchased a new stake in ProShares Ultra Silver in the 4th quarter valued at $76,000.

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.