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

ProShares Ultra Silver (NYSEARCA:AGQ)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $83.32, but opened at $75.35. ProShares Ultra Silver shares last traded at $76.04, with a volume of 1,071,322 shares traded.

ProShares Ultra Silver Stock Performance

The business’s 50 day moving average is $114.24 and its two-hundred day moving average is $147.96.

Institutional Investors Weigh In On ProShares Ultra Silver

Several institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC boosted its stake in ProShares Ultra Silver by 3.7% in the fourth quarter. LPL Financial LLC now owns 3,633 shares of the exchange traded fund’s stock worth $564,000 after buying an additional 128 shares in the last quarter. Hollencrest Capital Management raised its position in shares of ProShares Ultra Silver by 2.3% in the 4th quarter. Hollencrest Capital Management now owns 6,049 shares of the exchange traded fund’s stock worth $938,000 after acquiring an additional 137 shares in the last quarter. Signaturefd LLC bought a new position in ProShares Ultra Silver in the fourth quarter worth $31,000. IFP Advisors Inc purchased a new position in ProShares Ultra Silver during the 4th quarter valued at about $31,000. Finally, Blue Trust Inc. boosted its holdings in ProShares Ultra Silver by 86.7% in the fourth quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock worth $76,000 after acquiring an additional 228 shares in the last quarter.

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.