ETF Trends
ETF Trends

A leveraged exchange traded fund (ETF) for silver has fallen nearly 40% from its record high last week amid the historic sell-off in the metal.

ProShares Ultra Silver ETF (NYSEArca: AGQ) was down about 10% on Wednesday and has fallen sharply this week with silver correcting hard.

The ETF aims for daily results that correspond to 200% of the performance of silver bullion and is a leveraged bullish bet on the metal. Its leveraged bearish counterpart is ProShares UltraShort Silver (NYSEArca: ZSL), which has soared this week.

ProShares Ultra Silver ETF topped out at roughly $382 a share last week, and was trading around $240 a share Wednesday afternoon, representing a 37% pullback.

The largest ETF for silver, iShares Silver Trust (NYSEArca: SLV), lost about 5% as daily trading volume again topped 100 million shares.

ProShares Ultra Silver ETF


Full disclosure: Tom Lydon’s clients own SLV.

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.