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

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped down before the market opened on Monday . The stock had previously closed at $199.74, but opened at $165.48. ProShares Ultra Silver shares last traded at $165.0060, with a volume of 3,265,503 shares.

ProShares Ultra Silver Stock Up 9.5%

The company has a fifty day simple moving average of $108.99 and a two-hundred day simple moving average of $77.16.

Institutional Investors Weigh In On ProShares Ultra Silver

Institutional investors and hedge funds have recently bought and sold shares of the company. Group One Trading LLC increased its holdings in ProShares Ultra Silver by 1,826.8% in the 3rd quarter. Group One Trading LLC now owns 58,711 shares of the exchange traded fund’s stock valued at $4,476,000 after buying an additional 55,664 shares during the period. Simplex Trading LLC boosted its position in shares of ProShares Ultra Silver by 2,095.5% during the 2nd quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock worth $2,013,000 after acquiring an additional 40,464 shares in the last quarter. Savior LLC increased its stake in ProShares Ultra Silver by 5.2% in the third quarter. Savior LLC now owns 28,889 shares of the exchange traded fund’s stock valued at $2,202,000 after acquiring an additional 1,419 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new position in ProShares Ultra Silver during the third quarter valued at approximately $2,020,000. Finally, EverSource Wealth Advisors LLC bought a new stake in ProShares Ultra Silver during the second quarter worth $1,019,000.

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. 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.