ProShares Ultra Silver (NYSEARCA:AGQ) Shares Down 17.6% – Here’s What Happened

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) traded down 17.6% during trading on Friday . The company traded as low as $115.11 and last traded at $117.07. 2,537,102 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 6,793,011 shares. The stock had previously closed at $142.15.

ProShares Ultra Silver Stock Down 17.5%

The stock has a 50-day moving average of $126.20 and a 200 day moving average of $144.98.

Institutional Trading of ProShares Ultra Silver

A number of institutional investors and hedge funds have recently modified their holdings of AGQ. BNP Paribas Financial Markets bought a new stake in shares of ProShares Ultra Silver in the 2nd quarter valued at about $492,000. Group One Trading LLC acquired a new position in shares of ProShares Ultra Silver in the 2nd quarter valued at approximately $145,000. Headlands Technologies LLC grew its position in shares of ProShares Ultra Silver by 259.5% in the 2nd quarter. Headlands Technologies LLC now owns 13,896 shares of the exchange traded fund’s stock valued at $660,000 after purchasing an additional 10,031 shares during the period. Osaic Holdings Inc. grew its position in shares of ProShares Ultra Silver by 8.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,220 shares of the exchange traded fund’s stock valued at $200,000 after purchasing an additional 345 shares during the period. Finally, Csenge Advisory Group grew its position in shares of ProShares Ultra Silver by 54.1% in the 3rd quarter. Csenge Advisory Group now owns 7,926 shares of the exchange traded fund’s stock valued at $604,000 after purchasing an additional 2,783 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. 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.