ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Gap Up – Here’s Why

ProShares UltraShort Silver (NYSEARCA:ZSL) gapped up prior to trading on Monday . The stock had previously closed at $15.92, but opened at $17.46. ProShares UltraShort Silver shares last traded at $18.0730, with a volume of 12,726,439 shares.

ProShares UltraShort Silver Stock Performance

The business’s 50 day moving average price is $31.63 and its 200-day moving average price is $106.38.

Institutional Trading of ProShares UltraShort Silver

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Flow Traders U.S. LLC boosted its holdings 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 purchasing an additional 31,120 shares during the last quarter. Bank of America Corp DE raised its position in shares of ProShares UltraShort Silver by 10,161.9% in the 2nd 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 in the last quarter. Altfest L J & Co. Inc. purchased a new position in shares of ProShares UltraShort Silver during the 4th quarter valued at approximately $2,579,000. Aprio Wealth Management LLC bought a new stake in shares of ProShares UltraShort Silver in the fourth quarter worth $53,000. Finally, Mission Wealth Management LP acquired a new stake in ProShares UltraShort Silver in the fourth quarter valued at $107,000.

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.