ProShares Ultra Silver (NYSEARCA:AGQ) Reaches New 12-Month Low – Here’s Why

ProShares Ultra Silver (NYSEARCA:AGQ) shares hit a new 52-week low during trading on Thursday. The company traded as low as $55.10 and last traded at $55.19, with a volume of 751,351 shares trading hands. The stock had previously closed at $60.79.

ProShares Ultra Silver Stock Performance

The firm’s 50 day moving average price is $74.08 and its two-hundred day moving average price is $87.79.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Compass Wealth Management LLC acquired a new stake in shares of ProShares Ultra Silver in the third quarter valued at approximately $68,000. Integrated Advisors Network LLC acquired a new position in shares of ProShares Ultra Silver during the 3rd quarter worth approximately $563,000. TB Alternative Assets Ltd. bought a new stake in ProShares Ultra Silver in the 3rd quarter valued at $7,962,000. Bullseye Investment Management LLC bought a new stake in ProShares Ultra Silver in the 2nd quarter valued at $69,000. Finally, Strategic Investment Solutions Inc. IL raised its stake in ProShares Ultra Silver by 223.0% in the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 617 shares of the exchange traded fund’s stock valued at $42,000 after acquiring an additional 426 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.