ProShares Ultra Silver (NYSEARCA:AGQ) Shares Down 6.4% – Here’s Why

ProShares Ultra Silver (NYSEARCA:AGQ) were down 6.4% during mid-day trading on Tuesday. The stock traded as low as $47.33 and last traded at $47.63. Approximately 1,016,130 shares traded hands during trading, a decline of 78% from the average session volume of 4,523,974 shares. The stock had previously closed at $50.88.

ProShares Ultra Silver Stock Down 7.8%

The stock’s fifty day moving average price is $66.06 and its 200-day moving average price is $105.32.

Institutional Trading of ProShares Ultra Silver

Several institutional investors and hedge funds have recently made changes to their positions in the stock. StoneX Group Inc. acquired a new stake in ProShares Ultra Silver in the 3rd quarter worth about $1,279,000. Pilgrim Partners Asia Pte Ltd increased its position in shares of ProShares Ultra Silver by 20.0% in the third quarter. Pilgrim Partners Asia Pte Ltd now owns 6,600 shares of the exchange traded fund’s stock worth $442,000 after acquiring an additional 1,100 shares in the last quarter. Compass Wealth Management LLC acquired a new stake in ProShares Ultra Silver in the 3rd quarter valued at $68,000. Integrated Advisors Network LLC purchased a new stake in shares of ProShares Ultra Silver during the 3rd quarter valued at about $563,000. Finally, TB Alternative Assets Ltd. acquired a new position in shares of ProShares Ultra Silver during the third quarter worth $7,962,000.

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.