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

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $45.74, but opened at $38.62. ProShares Ultra Silver shares last traded at $39.91, with a volume of 1,470,062 shares traded.

ProShares Ultra Silver Stock Down 13.7 %

The stock’s fifty day moving average price is $42.07 and its 200-day moving average price is $40.53.

Institutional Investors Weigh In On ProShares Ultra Silver

A number of hedge funds and other institutional investors have recently modified their holdings of AGQ. JPMorgan Chase & Co. purchased a new stake in shares of ProShares Ultra Silver in the 3rd quarter worth about $110,000. HighTower Advisors LLC purchased a new stake in shares of ProShares Ultra Silver in the third quarter valued at about $292,000. Quadrature Capital Ltd acquired a new stake in shares of ProShares Ultra Silver in the third quarter valued at approximately $2,566,000. Fiduciary Family Office LLC purchased a new position in shares of ProShares Ultra Silver during the 4th quarter worth approximately $324,000. Finally, Simplex Trading LLC raised its position in shares of ProShares Ultra Silver by 206.0% during the 4th quarter. Simplex Trading LLC now owns 28,155 shares of the exchange traded fund’s stock worth $947,000 after purchasing an additional 18,954 shares during the last quarter.

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.