ProShares Ultra Silver (NYSEARCA:AGQ) Shares Down 9.9% – What’s Next?

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) traded down 9.9% on Wednesday . The stock traded as low as $160.81 and last traded at $164.1340. 2,924,378 shares changed hands during mid-day trading, an increase of 19% from the average session volume of 2,463,456 shares. The stock had previously closed at $182.16.

ProShares Ultra Silver Stock Down 13.2%

The stock’s fifty day moving average price is $108.99 and its 200 day moving average price is $77.16.

Hedge Funds Weigh In On ProShares Ultra Silver

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Brookstone Capital Management bought a new stake in shares of ProShares Ultra Silver in the 3rd quarter worth approximately $518,000. HighTower Advisors LLC purchased a new position in ProShares Ultra Silver in the 1st quarter worth $219,000. EverSource Wealth Advisors LLC bought a new stake in ProShares Ultra Silver in the second quarter worth $1,019,000. Savior LLC boosted its position in ProShares Ultra Silver by 7.6% during the second quarter. Savior LLC now owns 27,470 shares of the exchange traded fund’s stock valued at $1,305,000 after buying an additional 1,947 shares during the period. Finally, Simplex Trading LLC grew its stake in shares of ProShares Ultra Silver by 2,095.5% during the second quarter. Simplex Trading LLC now owns 42,395 shares of the exchange traded fund’s stock valued at $2,013,000 after buying an additional 40,464 shares during 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.