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

ProShares Ultra Silver (NYSEARCA:AGQ) shares gapped down prior to trading on Wednesday . The stock had previously closed at $43.70, but opened at $39.07. ProShares Ultra Silver shares last traded at $39.21, with a volume of 755,526 shares.

ProShares Ultra Silver Trading Down 8.9 %

The business has a 50-day moving average of $40.78 and a 200 day moving average of $38.72.

Hedge Funds Weigh In On ProShares Ultra Silver

Institutional investors and hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management increased its stake in shares of ProShares Ultra Silver by 8.5% in the 3rd quarter. Hollencrest Capital Management now owns 5,041 shares of the exchange traded fund’s stock worth $204,000 after purchasing an additional 395 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in ProShares Ultra Silver during the third quarter valued at about $61,000. International Assets Investment Management LLC increased its position in ProShares Ultra Silver by 3,943.8% in the third quarter. International Assets Investment Management LLC now owns 1,294 shares of the exchange traded fund’s stock worth $52,000 after buying an additional 1,262 shares in the last quarter. Advisory Alpha LLC bought a new position in shares of ProShares Ultra Silver in the second quarter worth about $495,000. Finally, Beaird Harris Wealth Management LLC bought a new position in shares of ProShares Ultra Silver in the second quarter worth about $62,000.

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.