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 $39.75, but opened at $37.68. ProShares Ultra Silver shares last traded at $37.34, with a volume of 426,040 shares trading hands.

ProShares Ultra Silver Trading Up 1.1 %

The stock’s fifty day simple moving average is $41.75 and its 200-day simple moving average is $39.24.

Institutional Trading of ProShares Ultra Silver

Several hedge funds and other institutional investors have recently bought and sold shares of AGQ. Quadrature Capital Ltd acquired a new position in shares of ProShares Ultra Silver in the third quarter valued at $2,566,000. Keynote Financial Services LLC acquired a new position in shares of ProShares Ultra Silver in the 1st quarter valued at $817,000. Insigneo Advisory Services LLC bought a new position in shares of ProShares Ultra Silver during the 2nd quarter worth about $918,000. Advisory Alpha LLC acquired a new stake in shares of ProShares Ultra Silver during the 2nd quarter valued at about $495,000. Finally, Flow Traders U.S. LLC bought a new stake in ProShares Ultra Silver in the third quarter valued at about $359,000.

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.