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

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) gapped down before the market opened on Monday . The stock had previously closed at $38.37, but opened at $36.02. ProShares Ultra Silver shares last traded at $36.44, with a volume of 469,649 shares.

ProShares Ultra Silver Price Performance

The stock has a 50-day moving average price of $37.69 and a 200 day moving average price of $38.50.

Institutional Trading of ProShares Ultra Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGQ. International Assets Investment Management LLC increased its holdings in shares of ProShares Ultra Silver by 3,943.8% during the 3rd 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 last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in ProShares Ultra Silver during the third quarter valued at about $61,000. Beaird Harris Wealth Management LLC purchased a new stake in ProShares Ultra Silver during the second quarter valued at about $62,000. JPMorgan Chase & Co. acquired a new stake in ProShares Ultra Silver during the third quarter worth about $110,000. Finally, Hollencrest Capital Management raised its holdings in shares of ProShares Ultra Silver by 8.5% in the 3rd quarter. Hollencrest Capital Management now owns 5,041 shares of the exchange traded fund’s stock worth $204,000 after purchasing an additional 395 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.