ProShares Ultra Silver (NYSEARCA:AGQ) Stock Falls 8.6% – Time to Sell?

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price were down 8.6% during mid-day trading on Monday. The company traded as low as $68.90 and last traded at $69.86. Approximately 1,260,343 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 4,774,611 shares. The stock had previously closed at $76.45.

ProShares Ultra Silver Trading Down 9.3%

The company’s fifty day simple moving average is $76.72 and its two-hundred day simple moving average is $95.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGQ. IFP Advisors Inc acquired a new stake in shares of ProShares Ultra Silver during the 4th quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL lifted its holdings in ProShares Ultra Silver by 223.0% during the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 617 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 426 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in ProShares Ultra Silver by 15.2% during the first quarter. EverSource Wealth Advisors LLC now owns 6,816 shares of the exchange traded fund’s stock worth $815,000 after buying an additional 900 shares during the last quarter. Bullseye Investment Management LLC acquired a new stake in shares of ProShares Ultra Silver during the second quarter worth approximately $69,000. Finally, NewEdge Advisors LLC increased its holdings in shares of ProShares Ultra Silver by 110.3% during the first quarter. NewEdge Advisors LLC now owns 2,723 shares of the exchange traded fund’s stock worth $325,000 after buying an additional 1,428 shares in 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. 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.