ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Gap Up – What’s Next?

ProShares UltraShort Silver (NYSEARCA:ZSL)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $1.81, but opened at $1.93. ProShares UltraShort Silver shares last traded at $1.8650, with a volume of 26,927,347 shares traded.

ProShares UltraShort Silver Trading Up 3.0%

The stock’s 50 day moving average is $3.57 and its 200 day moving average is $11.24.

ProShares UltraShort Silver’s stock is going to reverse split on Thursday, February 26th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, February 25th.

Institutional Investors Weigh In On ProShares UltraShort Silver

A number of institutional investors and hedge funds have recently bought and sold shares of ZSL. Bank of America Corp DE lifted its stake in ProShares UltraShort Silver by 10,161.9% during the second quarter. Bank of America Corp DE now owns 4,310 shares of the exchange traded fund’s stock valued at $111,000 after purchasing an additional 4,268 shares during the last quarter. Aprio Wealth Management LLC bought a new position in shares of ProShares UltraShort Silver in the fourth quarter valued at $53,000. LPL Financial LLC bought a new position in shares of ProShares UltraShort Silver in the fourth quarter valued at $53,000. Walser Wealth Management Company A Ltd Liability Co acquired a new stake in shares of ProShares UltraShort Silver during the 4th quarter valued at $60,000. Finally, Foundations Investment Advisors LLC bought a new stake in shares of ProShares UltraShort Silver during the 4th quarter worth $60,000.

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.