ProShares UltraShort Gold Sees Unusually Large Options Volume (NYSEARCA:GLL)

ProShares UltraShort Gold (NYSEARCA:GLL) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 3,141 call options on the stock. This represents an increase of approximately 50% compared to the average volume of 2,090 call options.

Institutional Trading of ProShares UltraShort Gold

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new stake in shares of ProShares UltraShort Gold in the second quarter worth about $55,000. Bank of America Corp DE grew its position 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 during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of ProShares UltraShort Gold during the second quarter valued at approximately $809,000. Two Sigma Securities LLC purchased a new position in shares of ProShares UltraShort Gold during the second quarter valued at approximately $336,000. Finally, Genesis Financial Group LLC bought a new position in shares of ProShares UltraShort Gold during the fourth quarter valued at approximately $2,395,000.

ProShares UltraShort Gold Trading Up 9.1%

NYSEARCA:GLL traded up $1.75 during midday trading on Thursday, reaching $21.04. 4,265,307 shares of the stock traded hands, compared to its average volume of 9,846,254. The company has a fifty day moving average of $18.99 and a 200 day moving average of $26.25. ProShares UltraShort Gold has a 12 month low of $15.60 and a 12 month high of $56.96.

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.