ProShares Ultra Silver (NYSEARCA:AGQ) Trading Down 7.7% – Here’s Why

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price dropped 7.7% during trading on Tuesday . The stock traded as low as $84.29 and last traded at $85.05. Approximately 1,759,610 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 6,273,967 shares. The stock had previously closed at $92.18.

ProShares Ultra Silver Stock Down 8.5%

The stock has a 50-day simple moving average of $119.17 and a 200 day simple moving average of $148.51.

Institutional Investors Weigh In On ProShares Ultra Silver

A number of institutional investors have recently bought and sold shares of AGQ. BNP Paribas Financial Markets bought a new stake in ProShares Ultra Silver in the 2nd quarter valued at $492,000. Group One Trading LLC acquired a new stake in shares of ProShares Ultra Silver during the 2nd quarter valued at about $145,000. Headlands Technologies LLC increased its stake in ProShares Ultra Silver by 259.5% in the second quarter. Headlands Technologies LLC now owns 13,896 shares of the exchange traded fund’s stock valued at $660,000 after acquiring an additional 10,031 shares during the period. Osaic Holdings Inc. increased its stake in ProShares Ultra Silver by 8.9% in the second quarter. Osaic Holdings Inc. now owns 4,220 shares of the exchange traded fund’s stock valued at $200,000 after acquiring an additional 345 shares during the period. Finally, Compass Wealth Management LLC acquired a new position in ProShares Ultra Silver in the third quarter worth about $257,000.

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.