ProShares Ultra Silver (NYSEARCA:AGQ) Stock Price Down 7.3% – Here’s What Happened

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price fell 7.3% during mid-day trading on Monday . The company traded as low as $63.74 and last traded at $63.80. 818,972 shares traded hands during trading, a decline of 86% from the average daily volume of 5,698,396 shares. The stock had previously closed at $68.80.

ProShares Ultra Silver Stock Performance

The firm has a 50-day simple moving average of $99.11 and a 200 day simple moving average of $142.05.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of institutional investors have recently modified their holdings of the business. Signaturefd LLC purchased a new stake in ProShares Ultra Silver in the 4th quarter valued at $31,000. IFP Advisors Inc acquired a new position in ProShares Ultra Silver in the fourth quarter valued at $31,000. Strategic Investment Solutions Inc. IL increased its stake in ProShares Ultra Silver by 223.0% in the second quarter. Strategic Investment Solutions Inc. IL now owns 617 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 426 shares during the period. Spire Wealth Management purchased a new stake in shares of ProShares Ultra Silver in the fourth quarter valued at about $50,000. Finally, Blue Trust Inc. raised its holdings in shares of ProShares Ultra Silver by 86.7% in the fourth quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock valued at $76,000 after buying an additional 228 shares during the last quarter.

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.