ProShares UltraShort Gold (NYSEARCA:GLL – Get Free Report)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.45 and traded as high as $27.74. ProShares UltraShort Gold shares last traded at $26.99, with a volume of 1,156,093 shares trading hands.
ProShares UltraShort Gold Stock Performance
The company’s 50 day moving average price is $23.99 and its 200-day moving average price is $21.45.
Institutional Trading of ProShares UltraShort Gold
Large investors have recently bought and sold shares of the company. Saba Capital Management L.P. purchased a new position in shares of ProShares UltraShort Gold during the 4th quarter valued at $9,479,000. Raffles Associates LP purchased a new stake in ProShares UltraShort Gold in the 4th quarter worth about $5,884,000. Hamilton Wealth LLC purchased a new stake in ProShares UltraShort Gold in the 1st quarter worth about $3,795,000. Simplex Trading LLC raised its stake in ProShares UltraShort Gold by 3,304.2% in the 4th quarter. Simplex Trading LLC now owns 149,072 shares of the exchange traded fund’s stock valued at $3,898,000 after acquiring an additional 144,693 shares during the period. Finally, Genesis Financial Group LLC bought a new stake in ProShares UltraShort Gold in the 4th quarter valued at about $2,395,000.
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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