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

ProShares Ultra Silver (NYSEARCA:AGQ) shares gapped down prior to trading on Thursday . The stock had previously closed at $110.25, but opened at $99.64. ProShares Ultra Silver shares last traded at $100.12, with a volume of 2,980,985 shares changing hands.

ProShares Ultra Silver Stock Performance

The company has a 50-day simple moving average of $175.52 and a 200-day simple moving average of $133.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC purchased a new position in ProShares Ultra Silver in the fourth quarter worth $31,000. IFP Advisors Inc purchased a new stake in shares of ProShares Ultra Silver during the 4th quarter worth $31,000. Farther Finance Advisors LLC acquired a new position in shares of ProShares Ultra Silver during the 3rd quarter worth $35,000. Spire Wealth Management acquired a new position in shares of ProShares Ultra Silver during the 4th quarter worth $50,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of 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.