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

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $174.48, but opened at $164.75. ProShares Ultra Silver shares last traded at $170.4980, with a volume of 1,669,740 shares traded.

ProShares Ultra Silver Trading Up 0.4%

The business has a 50-day simple moving average of $197.31 and a two-hundred day simple moving average of $121.00.

Institutional Trading of ProShares Ultra Silver

A number of hedge funds have recently modified their holdings of the stock. Compass Wealth Management LLC acquired a new stake in shares of ProShares Ultra Silver during the third quarter worth $257,000. Clear Harbor Asset Management LLC bought a new position in shares of ProShares Ultra Silver during the third quarter worth approximately $2,020,000. Brookstone Capital Management acquired a new stake in shares of ProShares Ultra Silver in the third quarter valued at approximately $518,000. Simplex Trading LLC raised its position in shares of 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 buying an additional 40,464 shares in the last quarter. Finally, SLT Holdings LLC boosted its stake in shares of ProShares Ultra Silver by 115.0% in the third quarter. SLT Holdings LLC now owns 10,750 shares of the exchange traded fund’s stock valued at $820,000 after buying an additional 5,750 shares during the period.

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.