ProShares UltraShort Gold (NYSEARCA:GLL – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.49 and traded as high as $23.46. ProShares UltraShort Gold shares last traded at $23.42, with a volume of 1,617,132 shares.
ProShares UltraShort Gold Stock Performance
The firm’s fifty day moving average price is $21.22 and its 200-day moving average price is $21.43.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of GLL. Saba Capital Management L.P. acquired a new stake in ProShares UltraShort Gold in the fourth quarter valued at $9,479,000. Raffles Associates LP acquired a new stake in ProShares UltraShort Gold in the fourth quarter valued at $5,884,000. Hamilton Wealth LLC acquired a new stake in ProShares UltraShort Gold in the first quarter valued at $3,795,000. Simplex Trading LLC increased its holdings in ProShares UltraShort Gold by 3,304.2% in the fourth quarter. Simplex Trading LLC now owns 149,072 shares of the exchange traded fund’s stock valued at $3,898,000 after purchasing an additional 144,693 shares during the period. Finally, Genesis Financial Group LLC acquired a new stake in ProShares UltraShort Gold in the fourth quarter valued at $2,395,000.
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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