ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Up 10.2% – Here’s Why

ProShares UltraShort Silver (NYSEARCA:ZSL) shares traded up 10.2% during trading on Tuesday . The stock traded as high as $2.42 and last traded at $2.4240. 64,806,224 shares changed hands during trading, a decline of 79% from the average session volume of 314,580,094 shares. The stock had previously closed at $2.20.

ProShares UltraShort Silver Stock Up 8.4%

The stock’s fifty day moving average price is $4.76 and its 200-day moving average price is $12.73.

Hedge Funds Weigh In On ProShares UltraShort Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aprio Wealth Management LLC bought a new stake in shares of ProShares UltraShort Silver in the 4th quarter valued at approximately $53,000. Foundations Investment Advisors LLC bought a new position in shares of ProShares UltraShort Silver during the 4th quarter valued at about $60,000. Mission Wealth Management LP bought a new stake in ProShares UltraShort Silver during the 4th quarter worth approximately $107,000. Bank of America Corp DE raised its holdings in ProShares UltraShort Silver by 10,161.9% during the 2nd quarter. Bank of America Corp DE now owns 4,310 shares of the exchange traded fund’s stock worth $111,000 after buying an additional 4,268 shares during the period. Finally, Flow Traders U.S. LLC raised its stake in shares of ProShares UltraShort Silver by 159.2% in the 2nd quarter. Flow Traders U.S. LLC now owns 50,666 shares of the exchange traded fund’s stock valued at $1,308,000 after purchasing an additional 31,120 shares during the period.

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.