ProShares UltraShort Gold (NYSEARCA:GLL – Get Free Report) saw unusually large options trading on Thursday. Stock traders bought 8,444 call options on the company. This is an increase of approximately 330% compared to the average volume of 1,964 call options.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Genesis Financial Group LLC acquired a new stake in shares of ProShares UltraShort Gold during the fourth quarter worth $2,395,000. Two Sigma Securities LLC acquired a new position in ProShares UltraShort Gold in the 2nd quarter worth $336,000. BNP Paribas Financial Markets bought a new position in ProShares UltraShort Gold during the 2nd quarter worth about $809,000. Bank of America Corp DE increased its holdings in ProShares UltraShort Gold by 55,280.0% during the 2nd quarter. Bank of America Corp DE now owns 8,307 shares of the exchange traded fund’s stock worth $185,000 after purchasing an additional 8,292 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of ProShares UltraShort Gold in the 2nd quarter valued at about $55,000.
ProShares UltraShort Gold Trading Up 19.3%
Shares of GLL opened at $19.78 on Friday. The stock has a 50 day simple moving average of $24.50 and a 200 day simple moving average of $32.21. ProShares UltraShort Gold has a 52-week low of $15.60 and a 52-week high of $62.34.
About ProShares UltraShort Gold
ProShares UltraShort Gold (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of gold bullion as measured by the United States dollar p.m. fixing price for delivery in London. The Fund will not directly or physically hold the underlying gold, but instead, will seek exposure to gold through the use of financial instruments, whose value is based on the underlying price of gold to pursue their investment objective. The benchmark price of gold will be the United States dollar price of gold bullion as measured by the London afternoon fixing price per troy ounce of unallocated gold bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery.
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