ProShares Ultra Silver (NYSEARCA:AGQ) Reaches New 12-Month Low – Time to Sell?

ProShares Ultra Silver (NYSEARCA:AGQ) shares hit a new 52-week low on Friday. The stock traded as low as $42.73 and last traded at $42.91, with a volume of 2,334,180 shares traded. The stock had previously closed at $44.45.

ProShares Ultra Silver Stock Down 4.5%

The business’s 50 day simple moving average is $63.24 and its 200 day simple moving average is $99.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TB Alternative Assets Ltd. purchased a new stake in ProShares Ultra Silver during the third quarter valued at approximately $7,962,000. Jump Financial LLC purchased a new position in shares of ProShares Ultra Silver in the 3rd quarter worth approximately $2,621,000. StoneX Group Inc. purchased a new position in shares of ProShares Ultra Silver in the 3rd quarter worth approximately $1,279,000. Integrated Advisors Network LLC purchased a new position in shares of ProShares Ultra Silver in the 3rd quarter worth approximately $563,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of ProShares Ultra Silver by 15.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,816 shares of the exchange traded fund’s stock worth $815,000 after purchasing an additional 900 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.