ProShares Ultra Silver (NYSEARCA:AGQ) Trading Down 4.7% – Time to Sell?

ProShares Ultra Silver (NYSEARCA:AGQ) shares dropped 4.7% on Tuesday . The stock traded as low as $45.38 and last traded at $45.80. Approximately 914,229 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 1,861,828 shares. The stock had previously closed at $48.07.

ProShares Ultra Silver Stock Performance

The business’s 50 day moving average price is $42.57 and its 200-day moving average price is $40.68.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of large investors have recently made changes to their positions in AGQ. HM Payson & Co. acquired a new stake in ProShares Ultra Silver in the 4th quarter worth about $39,000. SouthState Corp bought a new position in shares of ProShares Ultra Silver during the first quarter worth approximately $115,000. Headlands Technologies LLC acquired a new stake in shares of ProShares Ultra Silver in the first quarter valued at approximately $178,000. HighTower Advisors LLC bought a new stake in shares of ProShares Ultra Silver in the first quarter valued at approximately $219,000. Finally, Csenge Advisory Group bought a new stake in shares of ProShares Ultra Silver in the first quarter valued at approximately $237,000.

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.