ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Down – Here’s What Happened

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) gapped down before the market opened on Tuesday . The stock had previously closed at $88.98, but opened at $85.42. ProShares Ultra Silver shares last traded at $85.48, with a volume of 426,643 shares changing hands.

ProShares Ultra Silver Trading Down 0.2%

The company has a 50-day moving average price of $72.53 and a two-hundred day moving average price of $107.95.

Hedge Funds Weigh In On ProShares Ultra Silver

Several hedge funds have recently bought and sold shares of AGQ. IFP Advisors Inc purchased a new stake in ProShares Ultra Silver in the 4th quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL boosted its holdings in ProShares Ultra Silver by 223.0% in the 2nd 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. Caitlin John LLC purchased a new position in shares of ProShares Ultra Silver during the 4th quarter valued at $76,000. UMB Bank n.a. purchased a new position in shares of ProShares Ultra Silver during the 4th quarter valued at $132,000. Finally, Group One Trading LLC bought a new position in shares of ProShares Ultra Silver in the second quarter worth $145,000.

ProShares Ultra Silver Company Profile

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.