ProShares UltraShort Gold (NYSEARCA:GLL) Short Interest Update

ProShares UltraShort Gold (NYSEARCA:GLL) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totaling 253,550 shares, a decline of 51.6% from the November 30th total of 524,216 shares. Currently, 8.5% of the shares of the company are short sold. Based on an average trading volume of 1,236,794 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 1,236,794 shares, the days-to-cover ratio is currently 0.2 days. Currently, 8.5% of the shares of the company are short sold.

ProShares UltraShort Gold Trading Down 2.4%

Shares of GLL stock traded down $0.59 during trading hours on Friday, hitting $23.69. 1,968,113 shares of the company were exchanged, compared to its average volume of 891,475. The firm has a fifty day simple moving average of $28.00 and a 200 day simple moving average of $35.87. ProShares UltraShort Gold has a 52-week low of $23.44 and a 52-week high of $71.96.

Hedge Funds Weigh In On ProShares UltraShort Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new stake in shares of ProShares UltraShort Gold during the 2nd quarter valued at about $55,000. Signaturefd LLC purchased a new stake in ProShares UltraShort Gold in the second quarter valued at approximately $56,000. Bank of America Corp DE lifted its position in ProShares UltraShort Gold by 55,280.0% during the second quarter. Bank of America Corp DE now owns 8,307 shares of the exchange traded fund’s stock valued at $185,000 after purchasing an additional 8,292 shares during the last quarter. Two Sigma Securities LLC purchased a new position in ProShares UltraShort Gold in the 2nd quarter worth approximately $336,000. Finally, BNP Paribas Financial Markets bought a new position in shares of ProShares UltraShort Gold in the 2nd quarter worth $809,000.

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.