ProShares UltraShort Silver (NYSEARCA:ZSL – Get Free Report) shot up 7.7% on Friday . The company traded as high as $20.82 and last traded at $20.50. 5,328,081 shares were traded during trading, a decline of 78% from the average session volume of 24,428,740 shares. The stock had previously closed at $19.04.
ProShares UltraShort Silver Price Performance
The stock’s 50-day moving average is $25.30 and its 200 day moving average is $94.85.
Hedge Funds Weigh In On ProShares UltraShort Silver
Several institutional investors have recently modified their holdings of ZSL. Altfest L J & Co. Inc. acquired a new position in shares of ProShares UltraShort Silver in the 4th quarter valued at approximately $2,579,000. Jump Financial LLC acquired a new stake in ProShares UltraShort Silver during the 4th quarter worth approximately $998,000. StoneX Group Inc. acquired a new stake in ProShares UltraShort Silver during the 4th quarter worth approximately $320,000. Flow Traders U.S. LLC lifted its stake in ProShares UltraShort Silver by 159.2% in the second quarter. Flow Traders U.S. LLC now owns 50,666 shares of the exchange traded fund’s stock valued at $1,308,000 after buying an additional 31,120 shares in the last quarter. Finally, Raffles Associates LP bought a new position in ProShares UltraShort Silver in the fourth quarter valued at approximately $267,000.
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.
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