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

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) gapped down prior to trading on Friday . The stock had previously closed at $42.06, but opened at $41.16. ProShares Ultra Silver shares last traded at $41.00, with a volume of 1,011,389 shares.

ProShares Ultra Silver Stock Performance

The stock has a 50 day moving average price of $39.32 and a two-hundred day moving average price of $39.48.

Hedge Funds Weigh In On ProShares Ultra Silver

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd bought a new position in shares of ProShares Ultra Silver in the 3rd quarter valued at approximately $2,566,000. Simplex Trading LLC raised its position in shares of ProShares Ultra Silver by 206.0% in the fourth quarter. Simplex Trading LLC now owns 28,155 shares of the exchange traded fund’s stock valued at $947,000 after purchasing an additional 18,954 shares during the period. Two Sigma Securities LLC lifted its stake in shares of ProShares Ultra Silver by 201.3% in the fourth quarter. Two Sigma Securities LLC now owns 16,931 shares of the exchange traded fund’s stock worth $570,000 after buying an additional 11,312 shares during the last quarter. Fiduciary Family Office LLC acquired a new stake in shares of ProShares Ultra Silver in the fourth quarter worth $324,000. Finally, Flow Traders U.S. LLC acquired a new position in ProShares Ultra Silver in the 3rd quarter valued at $359,000.

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.