ProShares Ultra Silver (NYSEARCA:AGQ) Shares Down 5.5% – Here’s Why

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price traded down 5.5% during trading on Friday . The stock traded as low as $145.01 and last traded at $145.20. 1,326,302 shares were traded during mid-day trading, a decline of 85% from the average session volume of 9,100,762 shares. The stock had previously closed at $153.62.

ProShares Ultra Silver Stock Performance

The company has a fifty day moving average price of $197.00 and a two-hundred day moving average price of $128.95.

Hedge Funds Weigh In On ProShares Ultra Silver

Hedge funds have recently modified their holdings of the business. Foundations Investment Advisors LLC acquired a new stake in ProShares Ultra Silver in the second quarter valued at $237,000. Steward Partners Investment Advisory LLC bought a new stake in shares of ProShares Ultra Silver in the 2nd quarter valued at about $56,000. EverSource Wealth Advisors LLC acquired a new stake in shares of ProShares Ultra Silver in the second quarter valued at about $1,019,000. BNP Paribas Financial Markets bought a new position in shares of ProShares Ultra Silver during the second quarter worth about $492,000. Finally, Group One Trading LLC bought a new position in shares of ProShares Ultra Silver during the second quarter worth about $145,000.

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. 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.