ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

ProShares UltraShort Silver (NYSEARCA:ZSL) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $24.00 and traded as high as $25.04. ProShares UltraShort Silver shares last traded at $24.69, with a volume of 1,384,159 shares changing hands.

ProShares UltraShort Silver Stock Performance

The firm’s 50 day moving average is $28.68 and its two-hundred day moving average is $23.99.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its stake in shares of ProShares UltraShort Silver by 10,161.9% in the second quarter. Bank of America Corp DE now owns 4,310 shares of the exchange traded fund’s stock worth $111,000 after purchasing an additional 4,268 shares in the last quarter. Aprio Wealth Management LLC bought a new stake in shares of ProShares UltraShort Silver during the fourth quarter valued at about $53,000. LPL Financial LLC bought a new stake in shares of ProShares UltraShort Silver during the fourth quarter valued at about $53,000. Foundations Investment Advisors LLC acquired a new stake in ProShares UltraShort Silver in the fourth quarter worth about $60,000. Finally, Walser Wealth Management Company A Ltd Liability Co acquired a new stake in ProShares UltraShort Silver in the fourth quarter worth about $60,000.

ProShares UltraShort Silver Company Profile

ProShares UltraShort Silver (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of silver bullion as measured by the United States dollar fixing price for delivery in London. The Fund will not directly or physically hold the underlying silver, but instead will seek exposure to silver through the use of financial instruments, whose value is based on the underlying price of silver to pursue their investment objective. The benchmark price of silver will be the United States dollar price of silver bullion as measured by the London fixing price per troy ounce of unallocated silver bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery.