ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Down – Here’s What Happened

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $82.92, but opened at $78.00. ProShares Ultra Silver shares last traded at $78.10, with a volume of 953,998 shares changing hands.

ProShares Ultra Silver Stock Up 3.9%

The stock’s fifty day moving average is $72.78 and its 200-day moving average is $104.84.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AGQ. IFP Advisors Inc acquired a new stake in ProShares Ultra Silver in the 4th quarter worth approximately $31,000. Caitlin John LLC bought a new stake in ProShares Ultra Silver during the fourth quarter worth approximately $76,000. Strategic Investment Solutions Inc. IL grew its holdings in ProShares Ultra Silver by 223.0% during the second quarter. Strategic Investment Solutions Inc. IL now owns 617 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 426 shares during the last quarter. UMB Bank n.a. acquired a new position in ProShares Ultra Silver during the fourth quarter valued at approximately $132,000. Finally, NewEdge Advisors LLC bought a new position in shares of ProShares Ultra Silver in the fourth quarter valued at approximately $201,000.

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.