ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Gap Up – Time to Buy?

ProShares UltraShort Silver (NYSEARCA:ZSL) shares gapped up prior to trading on Thursday . The stock had previously closed at $22.58, but opened at $25.53. ProShares UltraShort Silver shares last traded at $25.26, with a volume of 4,014,549 shares traded.

ProShares UltraShort Silver Stock Performance

The company’s 50 day moving average price is $22.21 and its two-hundred day moving average price is $76.56.

Institutional Trading of ProShares UltraShort Silver

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. StoneX Group Inc. purchased a new position in shares of ProShares UltraShort Silver during the 4th quarter valued at about $320,000. Raffles Associates LP bought a new stake in ProShares UltraShort Silver during the 4th quarter worth approximately $267,000. Barclays PLC bought a new stake in ProShares UltraShort Silver during the 4th quarter worth approximately $181,000. HRT Financial LP purchased a new position in ProShares UltraShort Silver during the fourth quarter valued at approximately $156,000. Finally, XTX Topco Ltd purchased a new position in ProShares UltraShort Silver during the fourth quarter valued at approximately $129,000.

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.