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

ProShares Ultra Silver (NYSEARCA:AGQ) gapped down before the market opened on Thursday . The stock had previously closed at $68.20, but opened at $63.50. ProShares Ultra Silver shares last traded at $63.96, with a volume of 856,237 shares trading hands.

ProShares Ultra Silver Trading Down 6.6%

The firm has a fifty day moving average price of $87.90 and a 200 day moving average price of $136.06.

Hedge Funds Weigh In On ProShares Ultra Silver

Several large investors have recently modified their holdings of AGQ. LPL Financial LLC increased its position in shares of ProShares Ultra Silver by 3.7% during the fourth quarter. LPL Financial LLC now owns 3,633 shares of the exchange traded fund’s stock worth $564,000 after acquiring an additional 128 shares during the period. Hollencrest Capital Management grew its stake in ProShares Ultra Silver by 2.3% during the 4th quarter. Hollencrest Capital Management now owns 6,049 shares of the exchange traded fund’s stock worth $938,000 after purchasing an additional 137 shares in the last quarter. Signaturefd LLC acquired a new stake in ProShares Ultra Silver in the 4th quarter valued at about $31,000. IFP Advisors Inc purchased a new position in shares of ProShares Ultra Silver in the 4th quarter valued at about $31,000. Finally, Blue Trust Inc. boosted its stake in shares of ProShares Ultra Silver by 86.7% in the 4th 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.

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.