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

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $157.28, but opened at $148.62. ProShares Ultra Silver shares last traded at $146.11, with a volume of 1,011,726 shares trading hands.

ProShares Ultra Silver Stock Down 17.6%

The company has a fifty day simple moving average of $125.55 and a 200-day simple moving average of $144.79.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of hedge funds have recently modified their holdings of AGQ. UBS Group AG purchased a new position in shares of ProShares Ultra Silver during the 4th quarter worth $9,454,000. Group One Trading LLC grew its holdings in shares of ProShares Ultra Silver by 1,826.8% during the 3rd quarter. Group One Trading LLC now owns 58,711 shares of the exchange traded fund’s stock worth $4,476,000 after purchasing an additional 55,664 shares during the period. Jump Financial LLC grew its holdings in shares of ProShares Ultra Silver by 678.8% during the 4th quarter. Jump Financial LLC now owns 52,811 shares of the exchange traded fund’s stock worth $8,192,000 after purchasing an additional 46,030 shares during the period. Genesis Financial Group LLC purchased a new position in shares of ProShares Ultra Silver during the 4th quarter worth $3,258,000. Finally, HRT Financial LP purchased a new position in shares of ProShares Ultra Silver during the 4th quarter worth $2,777,000.

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.