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

ProShares Ultra Silver (NYSEARCA:AGQ) shares gapped down prior to trading on Monday . The stock had previously closed at $39.75, but opened at $37.68. ProShares Ultra Silver shares last traded at $37.34, with a volume of 426,040 shares traded.

ProShares Ultra Silver Trading Up 1.1 %

The company has a 50-day moving average of $41.75 and a 200 day moving average of $39.24.

Institutional Investors Weigh In On ProShares Ultra Silver

Hedge funds have recently made changes to their positions in the company. Insigneo Advisory Services LLC bought a new stake in ProShares Ultra Silver during the 2nd quarter worth about $918,000. New Harbor Financial Group LLC bought a new stake in shares of ProShares Ultra Silver during the second quarter valued at approximately $321,000. Keynote Financial Services LLC acquired a new stake in shares of ProShares Ultra Silver in the first quarter valued at approximately $817,000. Advisory Alpha LLC bought a new position in ProShares Ultra Silver in the 2nd quarter worth approximately $495,000. Finally, Beaird Harris Wealth Management LLC bought a new position in ProShares Ultra Silver in the 2nd quarter worth approximately $62,000.

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.