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

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) gapped down prior to trading on Monday . The stock had previously closed at $193.37, but opened at $175.50. ProShares Ultra Silver shares last traded at $177.0520, with a volume of 3,238,898 shares traded.

ProShares Ultra Silver Stock Performance

The firm’s 50-day simple moving average is $198.94 and its two-hundred day simple moving average is $123.35.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGQ. LPL Financial LLC increased its holdings in shares of ProShares Ultra Silver by 3.7% in the fourth quarter. LPL Financial LLC now owns 3,633 shares of the exchange traded fund’s stock valued at $564,000 after purchasing an additional 128 shares during the period. Hollencrest Capital Management boosted its position in ProShares Ultra Silver by 2.3% in the fourth quarter. Hollencrest Capital Management now owns 6,049 shares of the exchange traded fund’s stock valued at $938,000 after buying an additional 137 shares during the last quarter. Signaturefd LLC acquired a new position in ProShares Ultra Silver in the 4th quarter worth approximately $31,000. IFP Advisors Inc purchased a new position in ProShares Ultra Silver during the 4th quarter worth approximately $31,000. Finally, Blue Trust Inc. lifted its stake in ProShares Ultra Silver by 86.7% during the 4th quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock valued at $76,000 after acquiring an additional 228 shares during the period.

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. 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.