ProShares UltraShort Gold (NYSEARCA:GLL – Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.26 and traded as high as $23.98. ProShares UltraShort Gold shares last traded at $23.59, with a volume of 7,883,258 shares.
ProShares UltraShort Gold Stock Performance
The company has a 50 day simple moving average of $23.72 and a 200 day simple moving average of $22.30.
Institutional Trading of ProShares UltraShort Gold
Several institutional investors have recently added to or reduced their stakes in the business. Hamilton Wealth LLC bought a new stake in shares of ProShares UltraShort Gold in the 1st quarter worth approximately $3,795,000. IMC Chicago LLC acquired a new stake in shares of ProShares UltraShort Gold during the second quarter valued at approximately $3,824,000. Group One Trading LLC purchased a new stake in ProShares UltraShort Gold in the 1st quarter worth about $366,000. Finally, Mission Wealth Management LP acquired a new stake in shares of ProShares UltraShort Gold during the 4th quarter valued at $391,000.
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.
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