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

ProShares Ultra Silver (NYSEARCA:AGQ) shares gapped down prior to trading on Tuesday . The stock had previously closed at $83.32, but opened at $75.35. ProShares Ultra Silver shares last traded at $76.04, with a volume of 1,071,322 shares traded.

ProShares Ultra Silver Stock Performance

The firm has a 50 day moving average of $114.24 and a 200-day moving average of $147.96.

Institutional Trading of ProShares Ultra Silver

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new position in ProShares Ultra Silver during the second quarter valued at approximately $492,000. Group One Trading LLC purchased a new stake in shares of ProShares Ultra Silver during the 2nd quarter worth approximately $145,000. Headlands Technologies LLC raised its holdings in shares of ProShares Ultra Silver by 259.5% during the 2nd quarter. Headlands Technologies LLC now owns 13,896 shares of the exchange traded fund’s stock worth $660,000 after acquiring an additional 10,031 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of ProShares Ultra Silver by 8.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,220 shares of the exchange traded fund’s stock valued at $200,000 after acquiring an additional 345 shares during the last quarter. Finally, Integrated Advisors Network LLC bought a new position in shares of ProShares Ultra Silver during the 3rd quarter valued at approximately $687,000.

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.