Short Interest in ProShares UltraShort Silver (NYSEARCA:ZSL) Grows By 995.6%

ProShares UltraShort Silver (NYSEARCA:ZSL) saw a significant increase in short interest in January. As of January 15th, there was short interest totaling 8,938,312 shares, an increase of 995.6% from the December 31st total of 815,866 shares. Currently, 7.5% of the company’s shares are short sold. Based on an average trading volume of 164,457,666 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 164,457,666 shares, the days-to-cover ratio is currently 0.1 days. Currently, 7.5% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in shares of 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 purchasing an additional 4,268 shares in the last quarter. Flow Traders U.S. LLC boosted its position in shares of ProShares UltraShort Silver by 159.2% during the second quarter. Flow Traders U.S. LLC now owns 50,666 shares of the exchange traded fund’s stock worth $1,308,000 after acquiring an additional 31,120 shares during the last quarter. Finally, Altfest L J & Co. Inc. purchased a new position in ProShares UltraShort Silver during the fourth quarter valued at $2,579,000.

ProShares UltraShort Silver Price Performance

ZSL traded down $0.04 during midday trading on Wednesday, reaching $1.68. The company’s stock had a trading volume of 350,603,590 shares, compared to its average volume of 239,482,625. The stock’s 50-day moving average is $6.36 and its 200-day moving average is $14.02. ProShares UltraShort Silver has a 1 year low of $1.57 and a 1 year high of $40.13.

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.