ProShares UltraShort Gold (NYSEARCA:GLL – Get Free Report)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.34 and traded as high as $26.73. ProShares UltraShort Gold shares last traded at $26.68, with a volume of 1,636,827 shares trading hands.
ProShares UltraShort Gold Stock Performance
The stock has a 50 day moving average price of $22.57 and a two-hundred day moving average price of $21.34.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in GLL. Genesis Financial Group LLC bought a new stake in shares of ProShares UltraShort Gold in the fourth quarter valued at about $2,395,000. Quadrature Capital Ltd acquired a new position in shares of ProShares UltraShort Gold in the fourth quarter valued at about $1,516,000. Jump Financial LLC bought a new position in ProShares UltraShort Gold during the fourth quarter worth about $1,536,000. Raffles Associates LP bought a new position in ProShares UltraShort Gold during the fourth quarter worth about $5,884,000. Finally, Simplex Trading LLC increased 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 worth $3,898,000 after acquiring an additional 144,693 shares during the period.
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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