Stock Traders Buy High Volume of ProShares UltraShort Gold Call Options (NYSEARCA:GLL)

ProShares UltraShort Gold (NYSEARCA:GLL) was the recipient of unusually large options trading activity on Thursday. Stock traders purchased 8,444 call options on the stock. This represents an increase of approximately 330% compared to the typical volume of 1,964 call options.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Genesis Financial Group LLC bought a new stake in shares of ProShares UltraShort Gold during the 4th quarter worth approximately $2,395,000. Sykon Capital LLC bought a new position in ProShares UltraShort Gold in the 2nd quarter valued at $1,596,000. BNP Paribas Financial Markets purchased a new stake in ProShares UltraShort Gold in the second quarter worth $809,000. Two Sigma Securities LLC purchased a new stake in ProShares UltraShort Gold in the second quarter worth $336,000. Finally, Bank of America Corp DE lifted its position in shares of ProShares UltraShort Gold by 55,280.0% during the second quarter. Bank of America Corp DE now owns 8,307 shares of the exchange traded fund’s stock worth $185,000 after purchasing an additional 8,292 shares during the last quarter.

ProShares UltraShort Gold Stock Performance

NYSEARCA:GLL traded up $0.44 during mid-day trading on Thursday, hitting $17.13. 64,444,064 shares of the stock traded hands, compared to its average volume of 7,374,511. ProShares UltraShort Gold has a 52 week low of $15.60 and a 52 week high of $62.46. The firm’s 50 day moving average is $24.94 and its two-hundred day moving average is $32.49.

About ProShares UltraShort Gold

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.