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

ProShares Ultra Silver (NYSEARCA:AGQ) shares gapped down prior to trading on Wednesday . The stock had previously closed at $49.90, but opened at $47.94. ProShares Ultra Silver shares last traded at $46.86, with a volume of 1,118,891 shares trading hands.

ProShares Ultra Silver Stock Performance

The stock’s 50-day moving average is $38.92 and its 200 day moving average is $38.10.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Insigneo Advisory Services LLC purchased a new position in shares of ProShares Ultra Silver in the second quarter worth about $918,000. New Harbor Financial Group LLC purchased a new position in ProShares Ultra Silver during the 2nd quarter worth approximately $321,000. Keynote Financial Services LLC acquired a new stake in ProShares Ultra Silver during the 1st quarter valued at approximately $817,000. Quadrature Capital Ltd purchased a new stake in shares of ProShares Ultra Silver in the 1st quarter valued at $3,995,000. Finally, Advisory Alpha LLC acquired a new stake in shares of ProShares Ultra Silver in the second quarter worth $495,000.

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.