ProShares UltraShort Gold (NYSEARCA:GLL) Share Price Cross Above 200-Day Moving Average – Should You Sell?

Shares of ProShares UltraShort Gold (NYSEARCA:GLL) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $21.49 and traded as high as $23.46. ProShares UltraShort Gold shares last traded at $23.42, with a volume of 1,617,132 shares changing hands.

ProShares UltraShort Gold Price Performance

The firm’s 50-day moving average price is $21.08 and its 200 day moving average price is $21.49.

Institutional Trading of ProShares UltraShort Gold

Several large investors have recently modified their holdings of the business. Saba Capital Management L.P. acquired a new stake in shares of ProShares UltraShort Gold in the fourth quarter valued at approximately $9,479,000. Raffles Associates LP acquired a new stake in shares of ProShares UltraShort Gold in the fourth quarter valued at approximately $5,884,000. Hamilton Wealth LLC acquired a new stake in shares of ProShares UltraShort Gold in the first quarter valued at approximately $3,795,000. Simplex Trading LLC grew its position in shares of ProShares UltraShort Gold by 3,304.2% in the fourth quarter. Simplex Trading LLC now owns 149,072 shares of the exchange traded fund’s stock valued at $3,898,000 after purchasing an additional 144,693 shares during the last quarter. Finally, Genesis Financial Group LLC acquired a new stake in shares of ProShares UltraShort Gold in the fourth quarter valued at approximately $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.