On September 28, ProShares Ultra Silver declined 9.57% in regular trading, trading at $69.095 per share, with turnover of approximately $60.24 million.

On the news front, international spot silver plunged over 5% on the day while spot gold fell nearly 3%, as the precious metals complex was hit by a wave of intense selling. Rising oil prices fueled inflation concerns, reinforcing market expectations that the Federal Reserve will pursue further rate hikes. The U.S. dollar index surged to a two-month high above 101, while the benchmark 10-year Treasury yield held near 5.0%. The combination of a strong dollar and elevated real yields weighed heavily on precious metal prices across the board.

As a 2x leveraged product tracking silver, ProShares Ultra Silver mechanically amplified the underlying decline in spot silver, resulting in significantly magnified losses. Related precious metals vehicles also suffered, with the ProShares Ultra Gold ETF dropping approximately 5% and mining stock Gold Fields declining around 4% during the same session.

ProShares Ultra Silver seeks daily investment results that correspond to two times the daily performance of silver bullion. It invests in financial instruments including swap agreements, futures contracts, forward contracts, and option contracts rather than 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.)