ProShares UltraShort Silver (NYSEARCA:ZSL) Stock Price Up 14% – Should You Buy?

ProShares UltraShort Silver (NYSEARCA:ZSL) were up 14% during mid-day trading on Monday . The company traded as high as $2.78 and last traded at $2.69. Approximately 188,059,942 shares were traded during trading, a decline of 41% from the average daily volume of 319,454,719 shares. The stock had previously closed at $2.36.

ProShares UltraShort Silver Price Performance

The business’s fifty day moving average is $5.75 and its two-hundred day moving average is $13.57.

Institutional Investors Weigh In On ProShares UltraShort Silver

A number of large investors have recently bought and sold shares of ZSL. Aprio Wealth Management LLC purchased a new position in ProShares UltraShort Silver in the 4th quarter valued at about $53,000. Bank of America Corp DE lifted its stake in ProShares UltraShort Silver by 10,161.9% during 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. Altfest L J & Co. Inc. purchased a new stake in ProShares UltraShort Silver during the fourth quarter worth about $2,579,000. Finally, Flow Traders U.S. LLC grew its stake in shares of ProShares UltraShort Silver by 159.2% in the second quarter. Flow Traders U.S. LLC now owns 50,666 shares of the exchange traded fund’s stock worth $1,308,000 after acquiring an additional 31,120 shares in the last quarter.

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.