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

ProShares Ultra Silver (NYSEARCA:AGQ) gapped down prior to trading on Wednesday . The stock had previously closed at $70.38, but opened at $65.80. ProShares Ultra Silver shares last traded at $66.14, with a volume of 697,139 shares.

ProShares Ultra Silver Trading Up 5.0%

The business’s fifty day simple moving average is $99.86 and its 200-day simple moving average is $142.65.

Hedge Funds Weigh In On ProShares Ultra Silver

Institutional investors have recently bought and sold shares of the stock. UBS Group AG purchased a new stake in ProShares Ultra Silver in the 4th quarter worth $9,454,000. Genesis Financial Group LLC purchased a new position in shares of ProShares Ultra Silver during the fourth quarter valued at about $3,258,000. Hoey Investments Inc. increased its holdings in shares of ProShares Ultra Silver by 767.4% in the first quarter. Hoey Investments Inc. now owns 9,099 shares of the exchange traded fund’s stock worth $1,087,000 after purchasing an additional 8,050 shares during the last quarter. Vestor Capital LLC bought a new stake in shares of ProShares Ultra Silver in the first quarter worth about $598,000. Finally, Anson Funds Management LP purchased a new stake in shares of ProShares Ultra Silver in the first quarter worth about $744,000.

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.