ProShares Ultra Silver (NYSEARCA:AGQ) Shares Down 4.6%

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) were down 4.6% on Wednesday . The company traded as low as $43.70 and last traded at $44.28. Approximately 1,008,129 shares were traded during trading, a decline of 31% from the average daily volume of 1,451,111 shares. The stock had previously closed at $46.41.

ProShares Ultra Silver Stock Performance

The firm’s 50-day moving average price is $34.57 and its 200 day moving average price is $29.10.

Institutional Trading of ProShares Ultra Silver

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new position in ProShares Ultra Silver during the first quarter worth about $3,995,000. Axxcess Wealth Management LLC bought a new position in shares of ProShares Ultra Silver during the 3rd quarter valued at about $701,000. IMC Chicago LLC bought a new position in shares of ProShares Ultra Silver during the 4th quarter valued at about $762,000. Simplex Trading LLC grew its position in shares of ProShares Ultra Silver by 121.3% in the 1st quarter. Simplex Trading LLC now owns 49,896 shares of the exchange traded fund’s stock valued at $1,434,000 after purchasing an additional 27,352 shares during the period. Finally, HTLF Bank bought a new stake in ProShares Ultra Silver during the 4th quarter worth approximately $367,000.

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.