ProShares Ultra Silver seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of silver bullion as measured by the U.S. Dollar fixing price for delivery in London.
The London Silver Price Fixing is the procedure by which the price of silver is set on the London market by the three members of the London Silver Pool. It is designed to fix a price for settling contracts between members of the London bullion market.
Silver is priced in U.S. cents per troy ounce.
The London Bullion Market Association’s (LMBA) Silver Pool sets or fixes the price of silver once a day, at 12:00 GMT . The ProShares Silver ETFs will be benchmarked to the 12:00 GMT, or the 7 am ET, price. Daily price quotes can be viewed at the London Bullion Market Association.
• Leveraged investments provide magnified exposure to an asset or benchmark.
• Inverse investments provide inverse exposure to an asset or benchmark.