ProShares UltraShort Gold (NYSEARCA:GLL – Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.32 and traded as high as $25.73. ProShares UltraShort Gold shares last traded at $25.62, with a volume of 928,651 shares trading hands.
ProShares UltraShort Gold Stock Performance
The business has a 50-day moving average price of $23.33 and a two-hundred day moving average price of $21.35.
Institutional Trading of ProShares UltraShort Gold
A number of institutional investors have recently made changes to their positions in GLL. JPMorgan Chase & Co. acquired a new stake in shares of ProShares UltraShort Gold during the 2nd quarter worth $55,000. NewEdge Advisors LLC acquired a new position in ProShares UltraShort Gold in the fourth quarter valued at about $77,000. 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 worth $185,000 after purchasing an additional 8,292 shares during the period. Mission Wealth Management LP bought a new stake in ProShares UltraShort Gold during the fourth quarter worth about $391,000. Finally, Two Sigma Securities LLC acquired a new stake in ProShares UltraShort Gold during the second quarter worth about $336,000.
About ProShares UltraShort Gold
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.
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