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

ProShares Ultra Silver (NYSEARCA:AGQ) gapped down before the market opened on Wednesday . The stock had previously closed at $43.70, but opened at $39.07. ProShares Ultra Silver shares last traded at $39.21, with a volume of 755,526 shares trading hands.

ProShares Ultra Silver Stock Down 8.9 %

The firm’s fifty day moving average price is $40.78 and its 200-day moving average price is $38.72.

Institutional Trading of ProShares Ultra Silver

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of ProShares Ultra Silver by 3,943.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,294 shares of the exchange traded fund’s stock worth $52,000 after acquiring an additional 1,262 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in ProShares Ultra Silver in the third quarter worth $61,000. Beaird Harris Wealth Management LLC bought a new position in ProShares Ultra Silver in the second quarter worth $62,000. Hollencrest Capital Management lifted its position in ProShares Ultra Silver by 8.5% during the third quarter. Hollencrest Capital Management now owns 5,041 shares of the exchange traded fund’s stock valued at $204,000 after buying an additional 395 shares during the period. Finally, New Harbor Financial Group LLC bought a new stake in shares of ProShares Ultra Silver during the 2nd quarter valued at $321,000.

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.