Short Interest in ProShares UltraShort Gold (NYSEARCA:GLL) Rises By 126.8%

ProShares UltraShort Gold (NYSEARCA:GLL) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 736,800 shares, an increase of 126.8% from the January 15th total of 324,827 shares. Based on an average daily trading volume, of 19,196,277 shares, the days-to-cover ratio is currently 0.0 days. Approximately 8.4% of the company’s stock are sold short. Approximately 8.4% of the company’s stock are sold short. Based on an average daily trading volume, of 19,196,277 shares, the days-to-cover ratio is currently 0.0 days.

ProShares UltraShort Gold Stock Up 7.1%

ProShares UltraShort Gold stock traded up $1.25 during trading on Thursday, reaching $18.98. The stock had a trading volume of 32,316,351 shares, compared to its average volume of 12,437,294. The business has a 50 day moving average price of $23.08 and a 200 day moving average price of $30.78. ProShares UltraShort Gold has a 52-week low of $15.60 and a 52-week high of $61.34.

Institutional Investors Weigh In On ProShares UltraShort Gold

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in shares of ProShares UltraShort Gold in the 2nd quarter valued at about $55,000. Bank of America Corp DE lifted 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 acquiring an additional 8,292 shares during the period. Two Sigma Securities LLC purchased a new stake in ProShares UltraShort Gold in the 2nd quarter valued at approximately $336,000. Mission Wealth Management LP acquired a new position in ProShares UltraShort Gold during the fourth quarter worth $391,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of ProShares UltraShort Gold during the 2nd quarter worth $809,000.

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.