ProShares UltraShort Gold (NYSEARCA:GLL) Stock Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of ProShares UltraShort Gold (NYSEARCA:GLL) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.32 and traded as high as $25.73. ProShares UltraShort Gold shares last traded at $25.62, with a volume of 928,651 shares traded.

ProShares UltraShort Gold Price Performance

The business has a fifty day simple moving average of $23.24 and a 200-day simple moving average of $21.32.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GLL. Saba Capital Management L.P. acquired a new stake in ProShares UltraShort Gold during the 4th quarter worth approximately $9,479,000. Raffles Associates LP acquired a new position in ProShares UltraShort Gold in the 4th quarter valued at approximately $5,884,000. Hamilton Wealth LLC acquired a new position in ProShares UltraShort Gold in the 1st quarter valued at approximately $3,795,000. Simplex Trading LLC raised its stake in shares of 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 acquiring an additional 144,693 shares during the last quarter. Finally, Genesis Financial Group LLC bought a new position in shares of ProShares UltraShort Gold during the fourth quarter valued at $2,395,000.

ProShares UltraShort Gold Company Profile

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.