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

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $68.20, but opened at $63.50. ProShares Ultra Silver shares last traded at $63.96, with a volume of 856,237 shares.

ProShares Ultra Silver Price Performance

The company’s 50-day simple moving average is $85.28 and its 200 day simple moving average is $134.87.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AGQ. Group One Trading LLC increased its holdings in ProShares Ultra Silver by 53.3% during the 4th quarter. Group One Trading LLC now owns 90,024 shares of the exchange traded fund’s stock worth $13,965,000 after purchasing an additional 31,313 shares during the period. UBS Group AG purchased a new position in shares of ProShares Ultra Silver in the 4th quarter valued at about $9,454,000. Jump Financial LLC boosted its stake in shares of ProShares Ultra Silver by 678.8% in the 4th quarter. Jump Financial LLC now owns 52,811 shares of the exchange traded fund’s stock valued at $8,192,000 after buying an additional 46,030 shares during the period. Advisory Alpha LLC boosted its stake in shares of ProShares Ultra Silver by 7.3% in the 4th quarter. Advisory Alpha LLC now owns 22,722 shares of the exchange traded fund’s stock valued at $3,525,000 after buying an additional 1,554 shares during the period. Finally, Genesis Financial Group LLC acquired a new position in shares of ProShares Ultra Silver during the fourth quarter worth about $3,258,000.

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.