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

ProShares UltraShort Silver (NYSEARCA:ZSL) gapped up prior to trading on Wednesday . The stock had previously closed at $17.47, but opened at $18.37. ProShares UltraShort Silver shares last traded at $18.70, with a volume of 4,501,477 shares traded.

ProShares UltraShort Silver Trading Up 3.6%

The business has a fifty day moving average price of $25.30 and a 200 day moving average price of $94.85.

Hedge Funds Weigh In On ProShares UltraShort Silver

Several large investors have recently bought and sold shares of the stock. Walser Wealth Management Company A Ltd Liability Co bought a new stake in ProShares UltraShort Silver in the 4th quarter valued at $60,000. XTX Topco Ltd acquired a new stake in ProShares UltraShort Silver in the 4th quarter worth $129,000. Jump Financial LLC bought a new position in shares of ProShares UltraShort Silver during the 4th quarter worth about $998,000. Raffles Associates LP bought a new position in shares of ProShares UltraShort Silver during the 4th quarter worth about $267,000. Finally, Barclays PLC acquired a new position in shares of ProShares UltraShort Silver during the fourth quarter valued at about $181,000.

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.