ProShares UltraShort Gold (NYSEARCA:GLL – Get Free Report)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.45 and traded as high as $27.74. ProShares UltraShort Gold shares last traded at $26.99, with a volume of 1,156,093 shares changing hands.
ProShares UltraShort Gold Trading Down 1.7%
The business’s fifty day moving average price is $23.99 and its 200-day moving average price is $21.45.
Institutional Trading of ProShares UltraShort Gold
Hedge funds and other institutional investors have recently bought and sold shares of the company. Saba Capital Management L.P. bought a new position in shares of ProShares UltraShort Gold during the 4th quarter valued at $9,479,000. Raffles Associates LP bought a new stake in ProShares UltraShort Gold in the fourth quarter worth $5,884,000. Hamilton Wealth LLC bought a new stake in ProShares UltraShort Gold in the first quarter worth $3,795,000. Simplex Trading LLC boosted its position in ProShares UltraShort Gold by 3,304.2% during the fourth quarter. Simplex Trading LLC now owns 149,072 shares of the exchange traded fund’s stock valued at $3,898,000 after buying an additional 144,693 shares during the period. Finally, Genesis Financial Group LLC purchased a new stake in ProShares UltraShort Gold during the fourth quarter valued at about $2,395,000.
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.
See Also
- Five stocks we like better than ProShares UltraShort Gold
- AST SpaceMobile Stock Sinks as SpaceX Fallout Rattles Space Sector
- Aehr Test Systems Stock Soars on Earnings, Eyes Over 150% Revenue Growth
- TSMC Just Gave AI Chip Bulls Another Reason to Stay Confident
- GE Aerospace Faces a Prove-It Moment in Q2 Earnings
Receive News & Ratings for ProShares UltraShort Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProShares UltraShort Gold and related companies with MarketBeat.com's FREE daily email newsletter.
