ProShares UltraShort Gold (NYSEARCA:GLL – Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.74 and traded as high as $23.00. ProShares UltraShort Gold shares last traded at $22.94, with a volume of 2,095,786 shares traded.
ProShares UltraShort Gold Stock Down 0.6%
The stock’s fifty day simple moving average is $25.22 and its 200-day simple moving average is $21.77.
Institutional Investors Weigh In On ProShares UltraShort Gold
Hedge funds have recently modified their holdings of the stock. IMC Chicago LLC acquired a new position in shares of ProShares UltraShort Gold in the 2nd quarter valued at $3,824,000. Hamilton Wealth LLC acquired a new stake in ProShares UltraShort Gold during the 1st quarter valued at $1,265,000. Group One Trading LLC acquired a new stake in shares of ProShares UltraShort Gold during the first quarter valued at about $366,000. NewEdge Advisors LLC acquired a new stake in ProShares UltraShort Gold during the 4th quarter valued at approximately $77,000. Finally, Saba Capital Management L.P. acquired a new stake in shares of ProShares UltraShort Gold during the fourth quarter worth approximately $9,479,000.
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.
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