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

ProShares Ultra Silver (NYSEARCA:AGQ)’s share price gapped down prior to trading on Friday. The stock had previously closed at $49.44, but opened at $44.67. ProShares Ultra Silver shares last traded at $43.94, with a volume of 1,490,556 shares traded.

ProShares Ultra Silver Stock Performance

The company’s 50-day moving average is $71.79 and its 200 day moving average is $112.41.

Hedge Funds Weigh In On ProShares Ultra Silver

Several hedge funds and other institutional investors have recently bought and sold shares of AGQ. TB Alternative Assets Ltd. purchased a new position in shares of ProShares Ultra Silver in the third quarter worth approximately $7,962,000. Integrated Advisors Network LLC bought a new position in shares of ProShares Ultra Silver in the third quarter worth about $563,000. Hoey Investments Inc. lifted its position in shares of ProShares Ultra Silver by 767.4% during the 1st quarter. Hoey Investments Inc. now owns 9,099 shares of the exchange traded fund’s stock valued at $1,087,000 after buying an additional 8,050 shares in the last quarter. Anson Funds Management LP purchased a new position in shares of ProShares Ultra Silver during the 1st quarter valued at about $744,000. Finally, Vestor Capital LLC purchased a new position in shares of ProShares Ultra Silver during the 1st quarter valued at about $598,000.

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.