ProShares UltraShort Gold (NYSEARCA:GLL – Get Free Report)’s share price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $23.15 and traded as high as $25.52. ProShares UltraShort Gold shares last traded at $25.48, with a volume of 3,359,347 shares.
ProShares UltraShort Gold Stock Up 5.3%
The business has a fifty day moving average of $23.31 and a 200 day moving average of $23.23.
Institutional Trading of ProShares UltraShort Gold
A number of institutional investors and hedge funds have recently modified their holdings of GLL. Hamilton Wealth LLC bought a new position in ProShares UltraShort Gold during the 1st quarter worth approximately $3,795,000. IMC Chicago LLC acquired a new position in shares of ProShares UltraShort Gold in the 2nd quarter valued at $3,824,000. Group One Trading LLC acquired a new position in shares of ProShares UltraShort Gold in the 1st quarter valued at $366,000. Finally, WealthPlan Investment Management LLC bought a new stake in shares of ProShares UltraShort Gold in the 3rd quarter valued at $312,000.
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.
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