On June 5, ProShares Ultra Silver ETF (AGQ) declined 8.91% in regular trading, trading at $99.44/share, with trading volume of $121 million.
On the news front, spot silver fell over 3% on the day to approximately $72.50, directly pressuring this 2x leveraged product. The stalling of US-Iran negotiations and recurring Middle East conflicts pushed crude oil prices higher, intensifying US inflation expectations. CME data showed the probability of a Fed rate hike by year-end climbed to 46%, with full-year rate cut expectations essentially fading. The resulting strength in the US dollar and Treasury yields posed clear headwinds for non-yielding assets like silver.
As a 2x leveraged ETF tracking spot silver prices (London silver), AGQ amplified the underlying decline. The fund seeks to meet its investment objective by investing in financial instruments including swap agreements, futures contracts, forward contracts, and option contracts based on the benchmark, and does not invest directly in any commodity.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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