On July 8, ProShares Ultra Silver ETF (AGQ) declined 8.04% in after-hours trading, trading at $64.9/share, with turnover of $69.27 million. As a 2x leveraged silver ETF, AGQ amplified the underlying silver selloff.

The decline was driven by continued weakness in spot silver prices, which fell below $60/oz as the U.S. dollar index remained elevated and markets awaited the release of the Federal Reserve's June meeting minutes for guidance on future rate policy. Energy price volatility and persistent rate-hike expectations — with markets pricing approximately 80% probability of at least one more 25-basis-point hike by year-end — raised the opportunity cost of holding non-yielding precious metals, pressuring silver further.

Analysts noted that while non-farm payroll data earlier in the month briefly supported silver's rebound, that momentum has faded. The short-term direction hinges on whether the $60 psychological support holds and whether the Fed minutes signal any softening in policy stance.

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 its silver benchmark, without investing 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.)