ProShares UltraShort Gold (NYSEARCA:GLL) Short Interest Up 21.2% in February

ProShares UltraShort Gold (NYSEARCA:GLL) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 788,983 shares, an increase of 21.2% from the February 12th total of 651,204 shares. Based on an average daily trading volume, of 5,418,045 shares, the days-to-cover ratio is currently 0.1 days. Currently, 9.0% of the shares of the stock are sold short. Currently, 9.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,418,045 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On ProShares UltraShort Gold

A number of institutional investors have recently added to or reduced their stakes in the stock. Sykon Capital LLC bought a new stake in shares of ProShares UltraShort Gold during the second quarter valued at approximately $1,596,000. JPMorgan Chase & Co. bought a new stake in ProShares UltraShort Gold in the 2nd quarter valued at $55,000. Bank of America Corp DE increased its holdings in ProShares UltraShort Gold by 55,280.0% in the 2nd quarter. Bank of America Corp DE now owns 8,307 shares of the exchange traded fund’s stock valued at $185,000 after acquiring an additional 8,292 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in ProShares UltraShort Gold in the 2nd quarter worth $809,000. Finally, Two Sigma Securities LLC purchased a new stake in ProShares UltraShort Gold in the 2nd quarter worth $336,000.

ProShares UltraShort Gold Stock Performance

Shares of NYSEARCA GLL traded up $0.10 during mid-day trading on Tuesday, reaching $18.13. The company’s stock had a trading volume of 7,759,575 shares, compared to its average volume of 9,996,357. ProShares UltraShort Gold has a 52 week low of $15.60 and a 52 week high of $56.96. The stock has a fifty day moving average of $19.21 and a two-hundred day moving average of $26.46.

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.