ProShares UltraShort Silver (NYSEARCA:ZSL) Trading Down 6.6% – What’s Next?

ProShares UltraShort Silver (NYSEARCA:ZSL)’s stock price traded down 6.6% during mid-day trading on Monday . The company traded as low as $26.26 and last traded at $26.70. Approximately 8,854,991 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 23,250,811 shares. The stock had previously closed at $28.58.

ProShares UltraShort Silver Stock Down 1.7%

The stock has a fifty day simple moving average of $22.66 and a two-hundred day simple moving average of $82.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZSL. Bank of America Corp DE raised 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 worth $111,000 after acquiring an additional 4,268 shares in the last quarter. Aprio Wealth Management LLC acquired a new stake in shares of ProShares UltraShort Silver in the 4th quarter valued at approximately $53,000. LPL Financial LLC acquired a new stake in shares of ProShares UltraShort Silver in the 4th quarter valued at approximately $53,000. Walser Wealth Management Company A Ltd Liability Co bought a new stake in shares of ProShares UltraShort Silver during the 4th quarter valued at approximately $60,000. Finally, Foundations Investment Advisors LLC bought a new stake in shares of ProShares UltraShort Silver during the 4th quarter valued at approximately $60,000.

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.