ProShares Ultra Silver (NYSEARCA:AGQ) Stock Price Down 7.3% – Here’s Why

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price dropped 7.3% during mid-day trading on Monday . The stock traded as low as $63.74 and last traded at $63.80. Approximately 818,972 shares changed hands during trading, a decline of 86% from the average session volume of 5,698,396 shares. The stock had previously closed at $68.80.

ProShares Ultra Silver Price Performance

The business has a fifty day moving average price of $99.11 and a 200 day moving average price of $142.05.

Hedge Funds Weigh In On ProShares Ultra Silver

Several hedge funds have recently added to or reduced their stakes in AGQ. Strategic Investment Solutions Inc. IL lifted its position 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 buying an additional 426 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of ProShares Ultra Silver by 110.3% in the 1st quarter. NewEdge Advisors LLC now owns 2,723 shares of the exchange traded fund’s stock valued at $325,000 after buying an additional 1,428 shares during the last quarter. Vestor Capital LLC acquired a new stake in ProShares Ultra Silver during the 1st quarter worth $598,000. Anson Funds Management LP acquired a new stake in ProShares Ultra Silver during the 1st quarter worth $744,000. Finally, EverSource Wealth Advisors LLC raised its stake in ProShares Ultra Silver by 15.2% during the 1st 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.

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.