ProShares Ultra Silver (NYSEARCA:AGQ) Reaches New 1-Year Low – What’s Next?

ProShares Ultra Silver (NYSEARCA:AGQ) hit a new 52-week low on Thursday. The stock traded as low as $48.82 and last traded at $48.83, with a volume of 1,193,025 shares trading hands. The stock had previously closed at $53.24.

ProShares Ultra Silver Price Performance

The company has a 50-day moving average price of $70.91 and a two-hundred day moving average price of $111.52.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL lifted its holdings in shares of ProShares Ultra Silver by 223.0% during the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 617 shares of the exchange traded fund’s stock worth $42,000 after acquiring an additional 426 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in ProShares Ultra Silver by 15.2% in 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 in the last quarter. Compass Wealth Management LLC purchased a new position in ProShares Ultra Silver in the third quarter worth $68,000. Bullseye Investment Management LLC bought a new position in ProShares Ultra Silver in the second quarter valued at $69,000. Finally, Pilgrim Partners Asia Pte Ltd increased its stake in ProShares Ultra Silver by 20.0% in the third quarter. Pilgrim Partners Asia Pte Ltd now owns 6,600 shares of the exchange traded fund’s stock valued at $442,000 after acquiring an additional 1,100 shares during the last quarter.

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.