ProShares UltraShort Gold (NYSEARCA:GLL) Shares Cross Above Two Hundred Day Moving Average of $63.16
ProShares UltraShort Gold (NYSEARCA:GLL) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $63.16 and traded as high as $55.16. ProShares UltraShort Gold shares last traded at $55.16, with a volume of 250 shares changing hands.
The stock has a fifty day moving average price of $53.65 and a 200 day moving average price of $63.16.
A hedge fund recently raised its stake in ProShares UltraShort Gold stock. IMC Chicago LLC increased its stake in shares of ProShares UltraShort Gold (NYSEARCA:GLL) by 91.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 21,536 shares of the exchange traded fund’s stock after acquiring an additional 10,271 shares during the period. IMC Chicago LLC owned 7.25% of ProShares UltraShort Gold worth $1,316,000 as of its most recent filing with the SEC.
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.
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