Genesis Financial Group LLC Reduces Position in ProShares Ultra Gold $UGL

Genesis Financial Group LLC reduced its stake in ProShares Ultra Gold (NYSEARCA:UGL) by 82.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,900 shares of the company’s stock after selling 46,920 shares during the quarter. Genesis Financial Group LLC’s holdings in ProShares Ultra Gold were worth $608,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. raised its stake in ProShares Ultra Gold by 397.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 386,800 shares of the company’s stock valued at $21,475,000 after purchasing an additional 309,000 shares during the last quarter. Jump Financial LLC acquired a new position in shares of ProShares Ultra Gold in the fourth quarter valued at approximately $9,073,000. Group One Trading LLC lifted its stake in shares of ProShares Ultra Gold by 121.3% during the fourth quarter. Group One Trading LLC now owns 42,702 shares of the company’s stock valued at $2,371,000 after buying an additional 23,404 shares during the period. IMC Chicago LLC lifted its stake in shares of ProShares Ultra Gold by 36.1% during the fourth quarter. IMC Chicago LLC now owns 59,158 shares of the company’s stock valued at $3,284,000 after buying an additional 15,707 shares during the period. Finally, Prosperitas Financial LLC boosted its position in ProShares Ultra Gold by 143.7% during the fourth quarter. Prosperitas Financial LLC now owns 19,067 shares of the company’s stock worth $1,059,000 after acquiring an additional 11,242 shares during the last quarter.

More ProShares Ultra Gold News

Here are the key news stories impacting ProShares Ultra Gold this week:

• Positive Sentiment: Gold received a relief boost after the Federal Reserve held interest rates steady. Although officials maintained a relatively hawkish stance, the lack of an immediate rate hike eased near-term pressure on precious metals. Gold price jumps as Federal Reserve leaves interest rates unchanged
• Positive Sentiment: Technical analysts see signs of a potential bullish reversal after gold defended Fibonacci support and completed a breakout retest. A move above resistance could attract additional buying and benefit UGL. Gold price forecast: Breakout retest sets stage for next advance
• Positive Sentiment: Retail bullion demand is beginning to recover after a prolonged correction, with particularly strong growth in digital silver. Improving investor appetite for precious metals provides a supportive backdrop for gold-linked funds. Retail investors buy the dip as Royal Mint reports solid demand
• Positive Sentiment: Earlier reports pointed to continued ETF inflows and central-bank buying, two important sources of structural demand for gold. ETF inflows support gold ahead of Fed week
• Neutral Sentiment: Gold and silver markets remain highly sensitive to Federal Reserve guidance, Treasury yields, inflation expectations and geopolitical developments, suggesting elevated volatility for UGL. Increased volatility looms as gold faces the Fed test
• Negative Sentiment: The Fed’s continuing tightening bias, elevated yields and uncertainty surrounding the Iran conflict remain headwinds. Analysts have warned that gold may stay range-bound or face renewed selling pressure if support fails. Commerzbank downgrades gold and silver prices
• Negative Sentiment: Consumers continue selling unwanted jewelry to capitalize on high prices, adding physical supply and potentially limiting gold’s upside. Investors are still cashing in unwanted gold jewelry

ProShares Ultra Gold Stock Up 0.9%

UGL stock opened at $44.14 on Thursday. The company has a 50 day moving average price of $48.23 and a two-hundred day moving average price of $60.06. ProShares Ultra Gold has a one year low of $33.54 and a one year high of $90.40.

About ProShares Ultra Gold

ProShares Ultra Gold (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance. The Fund generally invests in financial instruments as a substitute for investing directly in a commodity or currency in order to gain exposure to the commodity index, commodity or currency. The Funds may purchase United States Treasury Bills, agency securities, and other high-credit quality short-term fixed income or similar securities with original maturities of one year or less.