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

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $38.37, but opened at $36.02. ProShares Ultra Silver shares last traded at $36.44, with a volume of 469,649 shares.

ProShares Ultra Silver Stock Performance

The firm’s 50 day simple moving average is $37.98 and its 200 day simple moving average is $38.51.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AGQ. Quadrature Capital Ltd purchased a new stake in shares of ProShares Ultra Silver in the 3rd quarter valued at approximately $2,566,000. Insigneo Advisory Services LLC acquired a new stake in ProShares Ultra Silver in the second quarter valued at approximately $918,000. Advisory Alpha LLC purchased a new position in ProShares Ultra Silver in the second quarter valued at $495,000. Flow Traders U.S. LLC purchased a new stake in shares of ProShares Ultra Silver during the 3rd quarter worth approximately $359,000. Finally, HighTower Advisors LLC purchased a new position in shares of ProShares Ultra Silver during the third quarter worth about $292,000.

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.