ProShares Ultra Silver (NYSEARCA:AGQ) Reaches New 52-Week Low – Should You Sell?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) reached a new 52-week low on Thursday. The stock traded as low as $48.82 and last traded at $48.83, with a volume of 1,193,025 shares changing hands. The stock had previously closed at $53.24.

ProShares Ultra Silver Trading Down 6.8%

The company has a 50-day moving average of $72.46 and a 200 day moving average of $113.15.

Hedge Funds Weigh In On ProShares Ultra Silver

Several institutional investors have recently added to or reduced their stakes in the company. TB Alternative Assets Ltd. bought a new position in ProShares Ultra Silver in the third quarter valued at about $7,962,000. Integrated Advisors Network LLC bought a new position in shares of ProShares Ultra Silver during the third quarter worth $563,000. Hoey Investments Inc. increased its position in shares of ProShares Ultra Silver by 767.4% in the 1st quarter. Hoey Investments Inc. now owns 9,099 shares of the exchange traded fund’s stock valued at $1,087,000 after buying an additional 8,050 shares in the last quarter. Anson Funds Management LP acquired a new stake in ProShares Ultra Silver during the 1st quarter worth $744,000. Finally, Vestor Capital LLC acquired a new stake in ProShares Ultra Silver during the 1st quarter worth $598,000.

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.