ProShares Ultra Silver (NYSEARCA:AGQ) Shares Down 7.3% – Here’s Why

ProShares Ultra Silver (NYSEARCA:AGQ) shares were down 7.3% during mid-day trading on Monday . The stock traded as low as $63.74 and last traded at $63.80. Approximately 818,972 shares traded hands during trading, a decline of 86% from the average daily volume of 5,698,396 shares. The stock had previously closed at $68.80.

ProShares Ultra Silver Stock Up 3.9%

The firm has a fifty day simple moving average of $97.29 and a 200 day simple moving average of $140.62.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. LPL Financial LLC lifted its holdings in shares of ProShares Ultra Silver by 3.7% during the 4th quarter. LPL Financial LLC now owns 3,633 shares of the exchange traded fund’s stock worth $564,000 after acquiring an additional 128 shares during the period. Hollencrest Capital Management increased its stake in ProShares Ultra Silver by 2.3% in the fourth quarter. Hollencrest Capital Management now owns 6,049 shares of the exchange traded fund’s stock valued at $938,000 after acquiring an additional 137 shares during the period. Signaturefd LLC bought a new stake in ProShares Ultra Silver in the fourth quarter valued at about $31,000. IFP Advisors Inc acquired a new position in ProShares Ultra Silver in the fourth quarter worth about $31,000. Finally, Blue Trust Inc. raised its position in ProShares Ultra Silver by 86.7% in the fourth quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock worth $76,000 after purchasing an additional 228 shares in the last quarter.

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.