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

ProShares Ultra Silver (NYSEARCA:AGQ) gapped down before the market opened on Thursday . The stock had previously closed at $38.59, but opened at $36.65. ProShares Ultra Silver shares last traded at $36.51, with a volume of 527,993 shares changing hands.

ProShares Ultra Silver Stock Up 1.7 %

The company’s 50 day simple moving average is $37.58 and its 200 day simple moving average is $38.42.

Institutional Investors Weigh In On ProShares Ultra Silver

A number of hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC boosted its position in shares of ProShares Ultra Silver by 3,943.8% during the third quarter. International Assets Investment Management LLC now owns 1,294 shares of the exchange traded fund’s stock worth $52,000 after buying an additional 1,262 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in ProShares Ultra Silver during the 3rd quarter worth approximately $61,000. Beaird Harris Wealth Management LLC bought a new position in shares of ProShares Ultra Silver during the 2nd quarter worth approximately $62,000. JPMorgan Chase & Co. bought a new stake in shares of ProShares Ultra Silver in the third quarter worth $110,000. Finally, Hollencrest Capital Management grew its position in ProShares Ultra Silver by 8.5% in the third quarter. Hollencrest Capital Management now owns 5,041 shares of the exchange traded fund’s stock valued at $204,000 after purchasing an additional 395 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.