ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Gap Up – Time to Buy?

Shares of ProShares UltraShort Silver (NYSEARCA:ZSL) gapped up before the market opened on Thursday . The stock had previously closed at $25.26, but opened at $27.69. ProShares UltraShort Silver shares last traded at $27.56, with a volume of 3,321,532 shares traded.

ProShares UltraShort Silver Stock Performance

The business’s 50-day simple moving average is $22.50 and its two-hundred day simple moving average is $80.91.

Institutional Trading of ProShares UltraShort Silver

Several institutional investors have recently added to or reduced their stakes in the stock. Altfest L J & Co. Inc. purchased a new stake in ProShares UltraShort Silver in the fourth quarter valued at approximately $2,579,000. Jump Financial LLC acquired a new position in ProShares UltraShort Silver during the fourth quarter worth $998,000. StoneX Group Inc. purchased a new position in shares of ProShares UltraShort Silver during the fourth quarter worth $320,000. Raffles Associates LP purchased a new position in shares of ProShares UltraShort Silver during the fourth quarter worth $267,000. Finally, Barclays PLC acquired a new stake in shares of ProShares UltraShort Silver in the fourth quarter valued at $181,000.

About ProShares UltraShort Silver

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.