ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Gap Down – Here’s What Happened

ProShares UltraShort Silver (NYSEARCA:ZSL) gapped down before the market opened on Monday . The stock had previously closed at $2.62, but opened at $2.43. ProShares UltraShort Silver shares last traded at $2.3350, with a volume of 36,025,788 shares traded.

ProShares UltraShort Silver Stock Performance

The stock’s 50 day moving average is $4.64 and its 200 day moving average is $12.59.

Hedge Funds Weigh In On ProShares UltraShort Silver

Institutional investors have recently modified their holdings of the company. Aprio Wealth Management LLC bought a new stake in shares of ProShares UltraShort Silver in the 4th quarter worth approximately $53,000. Foundations Investment Advisors LLC bought a new position in shares of ProShares UltraShort Silver during the fourth quarter valued at about $60,000. Mission Wealth Management LP bought a new position in shares of ProShares UltraShort Silver during the fourth quarter valued at about $107,000. Bank of America Corp DE increased its holdings 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 worth $111,000 after buying an additional 4,268 shares during the period. Finally, Flow Traders U.S. LLC lifted its stake in shares of ProShares UltraShort Silver by 159.2% in the 2nd quarter. Flow Traders U.S. LLC now owns 50,666 shares of the exchange traded fund’s stock valued at $1,308,000 after acquiring an additional 31,120 shares during the last quarter.

ProShares UltraShort Silver Company Profile

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.