ProShares Ultra Silver (NYSEARCA:AGQ) Trading Down 7.7% – What’s Next?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) were down 7.7% on Tuesday . The stock traded as low as $84.29 and last traded at $85.05. Approximately 1,759,610 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 6,273,967 shares. The stock had previously closed at $92.18.

ProShares Ultra Silver Stock Up 11.0%

The company has a 50 day moving average of $118.32 and a two-hundred day moving average of $148.45.

Institutional Investors Weigh In On ProShares Ultra Silver

Several hedge funds have recently bought and sold shares of AGQ. Signaturefd LLC bought a new stake in ProShares Ultra Silver during the fourth quarter worth about $31,000. IFP Advisors Inc purchased a new position in ProShares Ultra Silver during the fourth quarter valued at $31,000. Spire Wealth Management purchased a new position in ProShares Ultra Silver during the fourth quarter valued at $50,000. Blue Trust Inc. raised its stake in ProShares Ultra Silver by 86.7% during the fourth quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock valued at $76,000 after buying an additional 228 shares during the last quarter. Finally, Caitlin John LLC purchased a new position in ProShares Ultra Silver during the fourth quarter valued at $76,000.

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.