ProShares UltraShort Silver (NYSEARCA:ZSL – Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $28.14 and traded as high as $31.20. ProShares UltraShort Silver shares last traded at $30.79, with a volume of 1,879,682 shares changing hands.
ProShares UltraShort Silver Price Performance
The stock has a 50 day moving average price of $22.64 and a 200-day moving average price of $28.14.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZSL. Bank of America Corp DE boosted its stake in ProShares UltraShort Silver by 10,161.9% during the 2nd quarter. Bank of America Corp DE now owns 4,310 shares of the exchange traded fund’s stock worth $111,000 after purchasing an additional 4,268 shares during the last quarter. Aprio Wealth Management LLC acquired a new stake in shares of ProShares UltraShort Silver in the fourth quarter valued at about $53,000. LPL Financial LLC acquired a new stake in shares of ProShares UltraShort Silver in the fourth quarter valued at about $53,000. Walser Wealth Management Company A Ltd Liability Co purchased a new position in shares of ProShares UltraShort Silver in the fourth quarter worth about $60,000. Finally, Foundations Investment Advisors LLC purchased a new position in shares of ProShares UltraShort Silver in the fourth quarter worth about $60,000.
About ProShares UltraShort Silver
ProShares UltraShort Silver (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of silver bullion as measured by the United States dollar fixing price for delivery in London. The Fund will not directly or physically hold the underlying silver, but instead will seek exposure to silver through the use of financial instruments, whose value is based on the underlying price of silver to pursue their investment objective. The benchmark price of silver will be the United States dollar price of silver bullion as measured by the London fixing price per troy ounce of unallocated silver bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery.
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