ProShares Ultra Silver (NYSEARCA:AGQ) Shares Down 4.2% – Time to Sell?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) were down 4.2% during mid-day trading on Friday . The company traded as low as $37.47 and last traded at $37.53. Approximately 524,760 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,641,614 shares. The stock had previously closed at $39.19.

ProShares Ultra Silver Stock Performance

The firm has a 50-day moving average price of $41.29 and a 200-day moving average price of $39.10.

Hedge Funds Weigh In On ProShares Ultra Silver

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC grew its position in ProShares Ultra Silver by 3,943.8% during the third quarter. International Assets Investment Management LLC now owns 1,294 shares of the exchange traded fund’s stock worth $52,000 after buying an additional 1,262 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of ProShares Ultra Silver during the third quarter worth about $61,000. Beaird Harris Wealth Management LLC bought a new position in shares of ProShares Ultra Silver in the second quarter worth approximately $62,000. Hollencrest Capital Management raised its stake in ProShares Ultra Silver by 8.5% in the third quarter. Hollencrest Capital Management now owns 5,041 shares of the exchange traded fund’s stock valued at $204,000 after purchasing an additional 395 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in ProShares Ultra Silver during the third quarter valued at approximately $292,000.

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.