ProShares Ultra Silver (NYSEARCA:AGQ) Shares Down 10.1% – Here’s What Happened

ProShares Ultra Silver (NYSEARCA:AGQ) shares traded down 10.1% on Friday . The stock traded as low as $237.04 and last traded at $231.8460. 3,601,709 shares were traded during trading, a decline of 55% from the average session volume of 8,043,792 shares. The stock had previously closed at $257.76.

ProShares Ultra Silver Price Performance

The firm’s 50-day simple moving average is $138.30 and its 200 day simple moving average is $89.40.

Hedge Funds Weigh In On ProShares Ultra Silver

Several institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of ProShares Ultra Silver by 86.7% in the fourth quarter. Blue Trust Inc. now owns 491 shares of the exchange traded fund’s stock valued at $76,000 after buying an additional 228 shares during the period. 180 Wealth Advisors LLC increased its holdings in ProShares Ultra Silver by 4.9% in the 3rd quarter. 180 Wealth Advisors LLC now owns 5,908 shares of the exchange traded fund’s stock worth $450,000 after acquiring an additional 278 shares during the last quarter. Spire Wealth Management bought a new stake in ProShares Ultra Silver in the 4th quarter valued at about $50,000. Osaic Holdings Inc. lifted its holdings in ProShares Ultra Silver by 8.9% during the second quarter. Osaic Holdings Inc. now owns 4,220 shares of the exchange traded fund’s stock valued at $200,000 after purchasing an additional 345 shares during the last quarter. Finally, Farther Finance Advisors LLC bought a new position in ProShares Ultra Silver during the third quarter worth about $35,000.

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.