ProShares UltraShort Silver (NYSEARCA:ZSL) Stock Pass Below Two Hundred Day Moving Average – Here’s Why

Shares of ProShares UltraShort Silver (NYSEARCA:ZSL) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.47 and traded as low as $24.76. ProShares UltraShort Silver shares last traded at $25.93, with a volume of 2,315,210 shares trading hands.

ProShares UltraShort Silver Price Performance

The firm has a 50 day simple moving average of $21.70 and a 200-day simple moving average of $29.63.

Institutional Trading of ProShares UltraShort Silver

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its position 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 valued at $111,000 after purchasing an additional 4,268 shares during the last quarter. Aprio Wealth Management LLC bought a new position in shares of ProShares UltraShort Silver during the fourth quarter worth approximately $53,000. LPL Financial LLC bought a new stake in shares of ProShares UltraShort Silver in the fourth quarter valued at approximately $53,000. Walser Wealth Management Company A Ltd Liability Co acquired a new position in ProShares UltraShort Silver in the 4th quarter valued at $60,000. Finally, Foundations Investment Advisors LLC bought a new stake in shares of ProShares UltraShort Silver during the 4th quarter valued at $60,000.

About ProShares UltraShort Silver

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.