Short Interest in ProShares UltraShort Gold (NYSEARCA:GLL) Decreases By 59.1%

ProShares UltraShort Gold (NYSEARCA:GLL) was the target of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 312,244 shares, a decrease of 59.1% from the June 30th total of 763,723 shares. Currently, 6.5% of the shares of the stock are short sold. Based on an average daily volume of 1,506,732 shares, the short-interest ratio is currently 0.2 days.

ProShares UltraShort Gold Trading Up 2.9%

Shares of GLL stock traded up $0.76 during trading hours on Tuesday, hitting $26.79. The stock had a trading volume of 1,068,113 shares, compared to its average volume of 5,808,733. ProShares UltraShort Gold has a one year low of $15.60 and a one year high of $45.92. The stock’s 50-day moving average price is $24.78 and its two-hundred day moving average price is $21.46.

Institutional Trading of ProShares UltraShort Gold

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in shares of ProShares UltraShort Gold in the second quarter valued at $55,000. NewEdge Advisors LLC bought a new position in ProShares UltraShort Gold during the fourth quarter valued at $77,000. Bank of America Corp DE grew its stake in shares of 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 worth $185,000 after buying an additional 8,292 shares in the last quarter. Mission Wealth Management LP purchased a new position in shares of ProShares UltraShort Gold in the 4th quarter worth $391,000. Finally, Two Sigma Securities LLC bought a new stake in shares of ProShares UltraShort Gold in the 2nd quarter worth about $336,000.

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.