ProShares Ultra Silver (NYSEARCA:AGQ) Trading Down 17.5% – Time to Sell?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) fell 17.5% during mid-day trading on Thursday . The company traded as low as $94.38 and last traded at $101.90. 7,512,826 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 8,835,209 shares. The stock had previously closed at $123.51.

ProShares Ultra Silver Stock Performance

The stock has a 50-day simple moving average of $193.02 and a 200 day simple moving average of $131.70.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGQ. Signaturefd LLC acquired a new position in shares of ProShares Ultra Silver in the fourth quarter worth about $31,000. IFP Advisors Inc acquired a new stake in shares of ProShares Ultra Silver during the 4th quarter valued at about $31,000. Farther Finance Advisors LLC purchased a new position in shares of ProShares Ultra Silver in the 3rd quarter valued at about $35,000. Spire Wealth Management acquired a new position in ProShares Ultra Silver in the 4th quarter worth about $50,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in ProShares Ultra Silver in the 2nd quarter worth about $56,000.

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.