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

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped down before the market opened on Friday . The stock had previously closed at $66.89, but opened at $63.03. ProShares Ultra Silver shares last traded at $62.32, with a volume of 668,917 shares.

ProShares Ultra Silver Price Performance

The firm has a fifty day moving average of $81.14 and a 200-day moving average of $130.93.

Institutional Investors Weigh In On ProShares Ultra Silver

Large investors have recently modified their holdings of the stock. UBS Group AG acquired a new position in ProShares Ultra Silver during the 4th quarter worth approximately $9,454,000. Hoey Investments Inc. grew its position in ProShares Ultra Silver by 767.4% in the first quarter. Hoey Investments Inc. now owns 9,099 shares of the exchange traded fund’s stock valued at $1,087,000 after acquiring an additional 8,050 shares in the last quarter. Genesis Financial Group LLC acquired a new stake in ProShares Ultra Silver in the fourth quarter valued at approximately $3,258,000. UMB Bank n.a. purchased a new stake in shares of ProShares Ultra Silver during the fourth quarter valued at approximately $132,000. Finally, Strategic Investment Solutions Inc. IL raised its stake in shares of ProShares Ultra Silver by 223.0% during 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.

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.