ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Down – Should You Sell?
by Michael Walen · The Markets DailyShares of ProShares Ultra Silver (NYSEARCA:AGQ – Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $110.25, but opened at $99.64. ProShares Ultra Silver shares last traded at $100.12, with a volume of 2,980,985 shares trading hands.
ProShares Ultra Silver Stock Down 12.2%
The company’s fifty day moving average is $181.56 and its 200-day moving average is $133.27.
Institutional Trading of ProShares Ultra Silver
Hedge funds and other institutional investors have recently modified their holdings of the company. LPL Financial LLC lifted its stake in shares of ProShares Ultra Silver by 3.7% during the 4th quarter. LPL Financial LLC now owns 3,633 shares of the exchange traded fund’s stock valued at $564,000 after buying an additional 128 shares in the last quarter. Hollencrest Capital Management raised its holdings in ProShares Ultra Silver by 2.3% during the fourth quarter. Hollencrest Capital Management now owns 6,049 shares of the exchange traded fund’s stock valued at $938,000 after acquiring an additional 137 shares during the period. Signaturefd LLC purchased a new position in shares of ProShares Ultra Silver in the fourth quarter valued at about $31,000. IFP Advisors Inc bought a new position in shares of ProShares Ultra Silver in the fourth quarter worth about $31,000. Finally, Blue Trust Inc. boosted its stake in shares of ProShares Ultra Silver by 86.7% in the fourth quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock worth $76,000 after acquiring an additional 228 shares during the period.
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.