ProShares Ultra Gold (NYSEARCA:UGL – Get Free Report) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 960,543 shares, a decrease of 34.6% from the June 30th total of 1,467,901 shares. Currently, 6.6% of the shares of the stock are short sold. Based on an average trading volume of 1,583,831 shares, the short-interest ratio is currently 0.6 days.
ProShares Ultra Gold Stock Down 3.0%
Shares of NYSEARCA UGL traded down $1.36 during midday trading on Friday, reaching $44.19. 2,635,218 shares of the stock traded hands, compared to its average volume of 3,900,512. The company’s 50 day moving average is $47.77 and its 200 day moving average is $59.85. ProShares Ultra Gold has a one year low of $34.00 and a one year high of $90.40.
Key Headlines Impacting ProShares Ultra Gold
Here are the key news stories impacting ProShares Ultra Gold this week:
- Positive Sentiment: Central-bank gold purchases strengthened in the second quarter, while Asian demand remained resilient. Analysts also increasingly view gold near $4,000 an ounce as an attractive support and value level, which could limit downside and support UGL if prices stabilize. World Gold Council Reports Strong Central Bank Buying
- Neutral Sentiment: The Federal Reserve held interest rates steady, but its hawkish stance left markets expecting limited clarity until September. Gold remains range-bound, broadly between $4,000 and $4,200, with geopolitical developments and interest-rate expectations likely to determine the next breakout. Fed’s Hawkish Hold Leaves Precious Metals in Limbo
- Negative Sentiment: Gold pulled back as long-term Treasury yields reached levels not seen since 2007, increasing the opportunity cost of holding non-yielding bullion. A stronger-than-expected July consumer-sentiment reading and easing one-year inflation expectations also reduced near-term demand for defensive assets. Gold Pulls Back as Treasury Yields Test New Highs
- Negative Sentiment: Gold is stalling below resistance near $4,200 and trading near session lows below $4,030, keeping the short-term technical outlook pressured. Continued firm yields, dollar movements and uncertainty over monetary policy could prolong consolidation and amplify volatility in leveraged UGL. Spot Gold Near Session Lows Below $4,030
Hedge Funds Weigh In On ProShares Ultra Gold
ProShares Ultra Gold Company Profile
ProShares Ultra Gold (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance. The Fund generally invests in financial instruments as a substitute for investing directly in a commodity or currency in order to gain exposure to the commodity index, commodity or currency. The Funds may purchase United States Treasury Bills, agency securities, and other high-credit quality short-term fixed income or similar securities with original maturities of one year or less.
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