ProShares Ultra Silver (NYSEARCA:AGQ) Shares Down 7.1% – What’s Next?

ProShares Ultra Silver (NYSEARCA:AGQ) shares fell 7.1% during mid-day trading on Wednesday . The stock traded as low as $66.75 and last traded at $68.88. Approximately 1,703,400 shares changed hands during trading, a decline of 72% from the average session volume of 6,010,550 shares. The stock had previously closed at $74.18.

ProShares Ultra Silver Stock Performance

The stock has a fifty day moving average price of $113.28 and a 200 day moving average price of $147.69.

Hedge Funds Weigh In On ProShares Ultra Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGQ. Signaturefd LLC acquired a new stake in shares of ProShares Ultra Silver in the fourth quarter worth $31,000. IFP Advisors Inc acquired a new position in ProShares Ultra Silver in the 4th quarter valued at $31,000. Spire Wealth Management acquired a new position in ProShares Ultra Silver in the 4th quarter valued at $50,000. Blue Trust Inc. raised its holdings in ProShares Ultra Silver by 86.7% in the 4th quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock worth $76,000 after acquiring an additional 228 shares during the period. Finally, Caitlin John LLC bought a new position in ProShares Ultra Silver in the 4th quarter worth $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.