ProShares Ultra Silver (NYSEARCA:AGQ) Shares Down 11.6% – Should You Sell?

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price fell 11.6% on Monday . The stock traded as low as $137.56 and last traded at $141.64. 9,771,157 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 11,420,721 shares. The stock had previously closed at $160.15.

ProShares Ultra Silver Trading Up 5.6%

The firm has a fifty day moving average price of $189.51 and a 200 day moving average price of $111.23.

Institutional Investors Weigh In On ProShares Ultra Silver

Several hedge funds have recently made changes to their positions in AGQ. SLT Holdings LLC purchased a new position in ProShares Ultra Silver during the 2nd quarter worth approximately $237,000. Simplex Trading LLC grew its holdings in shares of ProShares Ultra Silver by 2,095.5% during the second quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock valued at $2,013,000 after buying an additional 40,464 shares in the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of ProShares Ultra Silver during the 2nd quarter worth about $237,000. Steward Partners Investment Advisory LLC bought a new position in shares of ProShares Ultra Silver during the 2nd quarter valued at $56,000. Finally, EverSource Wealth Advisors LLC bought a new position in ProShares Ultra Silver during the second quarter valued at about $1,019,000.

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.