Welcome to our dedicated page for ProShares Ultra Silver SEC filings (Ticker: AGQ), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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ProShares Trust announced reverse share splits for two of its ETFs, ProShares Ultra Bloomberg Natural Gas (BOIL) and ProShares UltraShort Bloomberg Crude Oil (SCO). BOIL will execute a 1-for-2 reverse split and SCO a 1-for-4 reverse split, both effective prior to the market open on May 28, 2026. Each fund’s ticker will remain the same, but BOIL will receive new CUSIP 74347Y664 and SCO 74347Y656. The reverse splits will increase each fund’s share price with a proportionate decrease in shares outstanding, leaving the total value of a shareholder’s investment unchanged. Fractional shares created by the reverse splits will be redeemed for cash, which may cause some shareholders to realize taxable gains or losses.
A related ProShares press release describes a 2-for-1 forward split for the ProShares S&P 500 Dividend Aristocrats ETF (NOBL) and reverse splits for 16 additional ProShares ETFs, maintaining investor value while adjusting share counts and prices.
ProShares Trust filed its quarterly report covering a range of leveraged and inverse ETFs tied to volatility, commodities and currencies. The portfolios hold large positions in short-term U.S. Treasury Bills and the affiliated ProShares Genius Money Market ETF, which provides collateral and cash management.
For the ProShares Ultra Bloomberg Crude Oil fund, shareholders’ equity was $602.9 million with net income of $348.2 million for the quarter, driven by gains on crude oil futures and total return swaps. The Ultra Bloomberg Natural Gas fund reported shareholders’ equity of $378.6 million and net income of $179.9 million, reflecting significant realized and unrealized gains on natural gas futures.
The ProShares Ultra Gold fund showed shareholders’ equity of $1.05 billion and net income of $99.8 million, with exposure implemented through COMEX gold futures and gold index swaps. The ProShares Ultra Silver fund had shareholders’ equity of $1.85 billion and a quarterly net loss of $349.7 million, as large negative marks on silver futures and swaps outweighed strong interest and dividend income.
ProShares Trust offers continuously traded leveraged exchange-traded funds that seek daily 2x or -2x exposure to benchmarks, including ProShares Ultra Silver (AGQ) and related Oil and Precious Metals Funds, listed on NYSE Arca.
Shares trade in the secondary market; creations and redemptions occur only in Creation Units of 50,000 Shares. Each Fund seeks its daily target only for a single day and uses Financial Instruments (futures, swaps, forwards, options) rather than physical commodities. The prospectus highlights significant risks including daily leverage, compounding effects, potential for a complete loss in a single day, Schedule K-1 tax reporting, and geopolitical and market‑liquidity risks.
ProShares Trust registered continuous offerings of common units for three VIX futures-based series: ProShares VIX Short-Term Futures ETF (VIXY), ProShares Ultra VIX Short-Term Futures ETF (UVXY) and ProShares Short VIX Short-Term Futures ETF (SVXY). Each Fund’s Shares trade on Cboe BZX.
The Matching Fund seeks to track the S&P 500 VIX Short-Term Futures Index. The Ultra Fund targets 1.5x the Index’s daily performance and the Short Fund targets -0.5x the Index’s daily performance; both are daily rebalanced and intended for short-term use. The prospectus warns of significant risks including leverage, daily compounding effects, potential for total loss within a single day, and illiquidity. Creation Unit sizes are disclosed (50,000 Shares for Geared Funds; 25,000 Shares for the Matching Fund). The prospectus also states each Fund will issue a Schedule K-1 to shareholders and lists NAV and create/redeem timing conventions.
ProShares Trust offers continuous secondary-market common units of multiple series, including a VIX Mid‑Term Futures matching fund and several daily "geared" (2x or -2x) funds. Shares transact on NYSE Arca or Cboe BZX; creations/redemptions occur in Creation Units of 50,000 shares (25,000 for the VIX fund).
The Geared Funds target daily multiples only and use futures, swaps and other financial instruments; NAV calculation times vary by fund (typically between 1:25 p.m. and 4:00 p.m. ET). The prospectus emphasizes significant risks for geared funds, the VIX Futures Fund’s short‑term focus, Schedule K‑1 tax reporting, and that these series are not investment companies under the 1940 Act.
ProShares Trust II is a Delaware commodity pool trust operating 16 exchange-traded funds that provide leveraged and inverse exposure to VIX futures, crude oil, natural gas, gold, silver, the euro and the yen. The funds use futures, swaps and forwards instead of holding physical commodities or currencies.
The Geared Funds target daily returns of -0.5x, -2x, 1.5x or 2x of their benchmarks, so performance over longer periods can differ sharply from headline multiples due to daily compounding and volatility. As of June 30, 2025, ProShares Ultra Silver had aggregate market value of $708,196,011, with 16,296,526 units outstanding as of February 23, 2026.
The Trust details multiple forward and reverse share splits across its VIX and commodity funds, which changed share counts and prices but not investor account value. Shares are created and redeemed only in large Creation Units by Authorized Participants, who transact with the funds in cash and, at times, via futures block trades or exchanges for related positions.
ProShares updated several prospectuses to permit each Fund to use an affiliated money market ETF as its primary cash management vehicle, effective immediately. The supplement states the affiliated Money Market ETF invests in U.S. Treasury securities with short maturities and is managed by an affiliate of the Sponsor.
The Sponsor will assume the affiliated ETF's management fees and expects an initial transition without brokerage fees; subsequent trading in the affiliated ETF may incur brokerage fees similar to current costs. The Funds' investment objectives and principal strategies will not change; several disclosures and risk-factor paragraphs were added addressing price fluctuations and potential conflicts of interest.
ProShare Capital Management approved the use of an affiliated money market ETF as the primary cash management vehicle for ProShares Ultra Bloomberg Crude Oil (UCO), ProShares UltraShort Bloomberg Crude Oil (SCO), ProShares Ultra Gold (UGL), and ProShares Ultra Silver (AGQ), effective February 18, 2026. The Sponsor will assume the management fees on investments in the affiliated Money Market ETF and expects an initial transition without brokerage fees. The Funds may still use other money market instruments and their investment objectives and principal strategies will not change. The prospectus and risk sections are updated to add disclosures about market risks, potential share-price fluctuation of the affiliated ETF, and conflicts of interest arising from the affiliation.
ProShare Capital Management approved using an affiliated money market ETF as the primary cash management vehicle for the listed Funds, effective immediately. The Sponsor will assume the affiliated ETF's management fees and expects no change to each Fund's investment objectives or principal strategies.
The supplement adds disclosure of new Money Market Instruments language, expands risk disclosures to note potential share‑price fluctuation and investor concentration in the affiliated ETF, and expressly warns of potential conflicts of interest despite the fee waiver. The change permits continued use of other money market instruments as appropriate.
ProShares Trust is implementing a reverse share split for its ProShares UltraShort Silver ETF, ticker ZSL. The fund will execute a 1-for-10 reverse split, effective before the market opens on February 26, 2026, when it begins trading at its post-split price.
The ticker will stay the same, but ZSL will receive a new CUSIP number, 74347Y672. Every 10 pre-split shares will convert into 1 post-split share, priced at roughly ten times the prior net asset value per share, so the total value of each shareholder’s investment remains the same.
Shareholders whose holdings are not an exact multiple of 10 will receive cash in place of any fractional shares, which may create taxable gains or losses.