ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Down – What’s Next?

ProShares Ultra Silver (NYSEARCA:AGQ) shares gapped down before the market opened on Tuesday . The stock had previously closed at $174.48, but opened at $164.75. ProShares Ultra Silver shares last traded at $170.4980, with a volume of 1,669,740 shares changing hands.

ProShares Ultra Silver Stock Down 1.8%

The stock’s fifty day simple moving average is $196.01 and its 200-day simple moving average is $119.82.

Hedge Funds Weigh In On ProShares Ultra Silver

Large investors have recently made changes to their positions in the company. Signaturefd LLC purchased a new position in ProShares Ultra Silver in the fourth quarter valued at $31,000. IFP Advisors Inc acquired a new stake in shares of ProShares Ultra Silver during the 4th quarter valued at about $31,000. Farther Finance Advisors LLC purchased a new position in shares of ProShares Ultra Silver in the 3rd quarter valued at about $35,000. Spire Wealth Management acquired a new position in ProShares Ultra Silver in the 4th quarter worth about $50,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in ProShares Ultra Silver in the 2nd quarter worth about $56,000.

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.