ProShares Ultra Silver (NYSEARCA:AGQ) Shares Down 20.4% – Here’s Why

ProShares Ultra Silver (NYSEARCA:AGQ) were down 20.4% during mid-day trading on Tuesday . The company traded as low as $134.43 and last traded at $140.6740. Approximately 5,213,618 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 9,929,005 shares. The stock had previously closed at $176.69.

ProShares Ultra Silver Stock Down 15.4%

The business’s fifty day moving average price is $199.40 and its 200 day moving average price is $124.23.

Institutional Investors Weigh In On ProShares Ultra Silver

A number of hedge funds have recently added to or reduced their stakes in the company. Group One Trading LLC boosted its position in shares of ProShares Ultra Silver by 53.3% during the 4th quarter. Group One Trading LLC now owns 90,024 shares of the exchange traded fund’s stock worth $13,965,000 after purchasing an additional 31,313 shares in the last quarter. UBS Group AG acquired a new stake in shares of ProShares Ultra Silver during the fourth quarter worth $9,454,000. Jump Financial LLC boosted its stake in ProShares Ultra Silver by 678.8% in the 4th quarter. Jump Financial LLC now owns 52,811 shares of the exchange traded fund’s stock worth $8,192,000 after buying an additional 46,030 shares during the last quarter. Simplex Trading LLC grew its holdings in ProShares Ultra Silver by 2,095.5% in the second quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock valued at $2,013,000 after purchasing an additional 40,464 shares during the period. Finally, Savior LLC grew its stake in shares of ProShares Ultra Silver by 5.2% during the 3rd quarter. Savior LLC now owns 28,889 shares of the exchange traded fund’s stock valued at $2,202,000 after buying an additional 1,419 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.