ProShares Ultra Silver (NYSEARCA:AGQ) Sees Significant Decline in Short Interest

ProShares Ultra Silver (NYSEARCA:AGQ) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 1,143,716 shares, a drop of 15.8% from the March 31st total of 1,358,883 shares. Approximately 7.6% of the shares of the company are sold short. Based on an average daily trading volume, of 3,519,311 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Hoey Investments Inc. grew its stake in ProShares Ultra Silver by 767.4% during the 1st quarter. Hoey Investments Inc. now owns 9,099 shares of the exchange traded fund’s stock worth $1,087,000 after buying an additional 8,050 shares during the last quarter. Integrated Advisors Network LLC grew its stake in ProShares Ultra Silver by 34.9% during the 1st quarter. Integrated Advisors Network LLC now owns 9,337 shares of the exchange traded fund’s stock worth $1,116,000 after buying an additional 2,418 shares during the last quarter. Sovereign Financial Group Inc. purchased a new position in ProShares Ultra Silver during the 1st quarter worth approximately $204,000. Mercer Global Advisors Inc. ADV grew its stake in ProShares Ultra Silver by 9.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,315 shares of the exchange traded fund’s stock worth $670,000 after buying an additional 365 shares during the last quarter. Finally, Caitlin John LLC purchased a new position in ProShares Ultra Silver during the 4th quarter worth approximately $76,000.

ProShares Ultra Silver Trading Up 5.7%

NYSEARCA:AGQ traded up $6.42 during mid-day trading on Friday, reaching $118.51. 2,291,646 shares of the stock were exchanged, compared to its average volume of 7,149,729. The company has a 50 day simple moving average of $131.53 and a 200-day simple moving average of $141.33. ProShares Ultra Silver has a 1 year low of $37.95 and a 1 year high of $431.47.

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.