ProShares Ultra Silver (NYSEARCA:AGQ) Shares Down 6.9% – What’s Next?

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price dropped 6.9% during mid-day trading on Tuesday . The stock traded as low as $102.89 and last traded at $104.09. Approximately 1,135,717 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 8,249,633 shares. The stock had previously closed at $111.81.

ProShares Ultra Silver Price Performance

The firm’s 50-day simple moving average is $154.54 and its 200-day simple moving average is $136.43.

Institutional Investors Weigh In On ProShares Ultra Silver

Large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC purchased a new stake in ProShares Ultra Silver in the 4th quarter valued at about $31,000. IFP Advisors Inc purchased a new stake in ProShares Ultra Silver in the 4th quarter valued at about $31,000. Farther Finance Advisors LLC purchased a new stake in ProShares Ultra Silver in the 3rd quarter valued at about $35,000. Spire Wealth Management purchased a new stake in ProShares Ultra Silver in the 4th quarter valued at about $50,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in ProShares Ultra Silver in the 2nd quarter valued at about $56,000.

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.