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

ProShares Ultra Silver (NYSEARCA:AGQ) gapped down prior to trading on Monday . The stock had previously closed at $122.21, but opened at $115.12. ProShares Ultra Silver shares last traded at $115.16, with a volume of 1,026,698 shares trading hands.

ProShares Ultra Silver Stock Performance

The firm has a 50 day simple moving average of $136.04 and a two-hundred day simple moving average of $138.58.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. UBS Group AG purchased a new position in ProShares Ultra Silver during the fourth quarter worth about $9,454,000. Group One Trading LLC increased its stake in ProShares Ultra Silver by 1,826.8% in the 3rd quarter. Group One Trading LLC now owns 58,711 shares of the exchange traded fund’s stock valued at $4,476,000 after buying an additional 55,664 shares during the last quarter. Jump Financial LLC increased its stake in ProShares Ultra Silver by 678.8% in the 4th quarter. Jump Financial LLC now owns 52,811 shares of the exchange traded fund’s stock valued at $8,192,000 after buying an additional 46,030 shares during the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of ProShares Ultra Silver during the 3rd quarter worth approximately $2,020,000. Finally, Genesis Financial Group LLC bought a new position in shares of ProShares Ultra Silver during the 4th quarter worth approximately $3,258,000.

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. 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.