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

ProShares UltraShort Silver (NYSEARCA:ZSL)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $18.43, but opened at $17.08. ProShares UltraShort Silver shares last traded at $17.60, with a volume of 10,698,503 shares traded.

ProShares UltraShort Silver Price Performance

The stock’s 50 day simple moving average is $27.28 and its 200-day simple moving average is $97.35.

Institutional Investors Weigh In On ProShares UltraShort Silver

A number of large investors have recently bought and sold shares of the business. Flow Traders U.S. LLC raised its holdings in ProShares UltraShort Silver by 159.2% during 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 buying an additional 31,120 shares in the last quarter. Aprio Wealth Management LLC bought a new stake in shares of ProShares UltraShort Silver during the 4th quarter worth about $53,000. LPL Financial LLC acquired a new position in shares of ProShares UltraShort Silver during the 4th quarter valued at about $53,000. HRT Financial LP acquired a new position in shares of ProShares UltraShort Silver during the 4th quarter valued at about $156,000. Finally, Jump Financial LLC bought a new position in shares of ProShares UltraShort Silver in the 4th quarter valued at approximately $998,000.

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.