ProShares UltraShort Gold (NYSEARCA:GLL) Short Interest Update

ProShares UltraShort Gold (NYSEARCA:GLL) was the target of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 736,800 shares, a growth of 126.8% from the January 15th total of 324,827 shares. Based on an average daily volume of 19,196,277 shares, the short-interest ratio is currently 0.0 days. Approximately 8.4% of the shares of the company are sold short. Approximately 8.4% of the shares of the company are sold short. Based on an average daily volume of 19,196,277 shares, the short-interest ratio is currently 0.0 days.

Hedge Funds Weigh In On ProShares UltraShort Gold

Several institutional investors have recently added to or reduced their stakes in GLL. JPMorgan Chase & Co. purchased a new stake in ProShares UltraShort Gold during the second quarter valued at $55,000. Bank of America Corp DE increased its holdings in shares of ProShares UltraShort Gold by 55,280.0% in the 2nd quarter. Bank of America Corp DE now owns 8,307 shares of the exchange traded fund’s stock worth $185,000 after buying an additional 8,292 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in shares of ProShares UltraShort Gold during the 2nd quarter valued at about $336,000. Mission Wealth Management LP bought a new position in shares of ProShares UltraShort Gold in the 4th quarter valued at about $391,000. Finally, BNP Paribas Financial Markets bought a new position in shares of ProShares UltraShort Gold in the 2nd quarter valued at about $809,000.

ProShares UltraShort Gold Stock Performance

Shares of NYSEARCA GLL traded down $0.90 during midday trading on Friday, reaching $18.08. The stock had a trading volume of 11,638,055 shares, compared to its average volume of 12,412,218. ProShares UltraShort Gold has a 12-month low of $15.60 and a 12-month high of $61.34. The stock has a 50-day moving average of $22.72 and a 200-day moving average of $30.51.

ProShares UltraShort Gold Company Profile

ProShares UltraShort Gold (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of gold bullion as measured by the United States dollar p.m. fixing price for delivery in London. The Fund will not directly or physically hold the underlying gold, but instead, will seek exposure to gold through the use of financial instruments, whose value is based on the underlying price of gold to pursue their investment objective. The benchmark price of gold will be the United States dollar price of gold bullion as measured by the London afternoon fixing price per troy ounce of unallocated gold bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery.