ProShares Ultra Silver (NYSEARCA:AGQ) Reaches New 12-Month Low – What’s Next?

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

ProShares Ultra Silver Trading Down 9.1%

The firm’s fifty day moving average is $75.10 and its two-hundred day moving average is $88.44.

Hedge Funds Weigh In On ProShares Ultra Silver

Hedge funds and other institutional investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL grew its holdings in shares of ProShares Ultra Silver by 223.0% in the second 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 in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in ProShares Ultra Silver by 15.2% during the first quarter. EverSource Wealth Advisors LLC now owns 6,816 shares of the exchange traded fund’s stock worth $815,000 after acquiring an additional 900 shares during the period. Bullseye Investment Management LLC bought a new stake in ProShares Ultra Silver during the second quarter worth $69,000. NewEdge Advisors LLC boosted its position in ProShares Ultra Silver by 110.3% in the first quarter. NewEdge Advisors LLC now owns 2,723 shares of the exchange traded fund’s stock worth $325,000 after purchasing an additional 1,428 shares during the last quarter. Finally, Sovereign Financial Group Inc. purchased a new position in ProShares Ultra Silver in the first quarter worth $204,000.

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.