ProShares Ultra Silver (NYSEARCA:AGQ) Shares Cross Below 200 Day Moving Average – Here’s Why

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $92.30 and traded as low as $67.89. ProShares Ultra Silver shares last traded at $68.45, with a volume of 1,568,218 shares traded.

ProShares Ultra Silver Trading Down 6.0%

The stock’s 50 day simple moving average is $77.25 and its two-hundred day simple moving average is $91.92.

Institutional Investors Weigh In On ProShares Ultra Silver

Several hedge funds have recently added to or reduced their stakes in the stock. Hoey Investments Inc. boosted its stake in ProShares Ultra Silver by 767.4% in the 1st quarter. Hoey Investments Inc. now owns 9,099 shares of the exchange traded fund’s stock worth $1,087,000 after purchasing an additional 8,050 shares in the last quarter. Sovereign Financial Group Inc. bought a new stake in ProShares Ultra Silver during the 1st quarter valued at about $204,000. Bullseye Investment Management LLC purchased a new position in ProShares Ultra Silver in the second quarter worth about $69,000. Strategic Investment Solutions Inc. IL lifted its stake 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 worth $42,000 after buying an additional 426 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of 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 buying an additional 1,428 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.