Short Interest in ProShares UltraShort Silver (NYSEARCA:ZSL) Rises By 50.3%

ProShares UltraShort Silver (NYSEARCA:ZSL) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 13,436,680 shares, an increase of 50.3% from the January 15th total of 8,938,312 shares. Approximately 4.7% of the shares of the company are sold short. Based on an average daily volume of 489,485,484 shares, the short-interest ratio is presently 0.0 days. Based on an average daily volume of 489,485,484 shares, the short-interest ratio is presently 0.0 days. Approximately 4.7% of the shares of the company are sold short.

ProShares UltraShort Silver Price Performance

Shares of NYSEARCA ZSL traded down $0.16 during mid-day trading on Friday, hitting $2.51. 166,212,121 shares of the company were exchanged, compared to its average volume of 308,084,938. The stock has a 50 day simple moving average of $4.24 and a 200-day simple moving average of $12.31. ProShares UltraShort Silver has a 1-year low of $1.44 and a 1-year high of $40.13.

Shares of ProShares UltraShort Silver are scheduled to reverse split on Thursday, February 26th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, February 25th.

Institutional Investors Weigh In On ProShares UltraShort Silver

A number of hedge funds have recently added to or reduced their stakes in ZSL. Aprio Wealth Management LLC purchased a new position in shares of ProShares UltraShort Silver during the 4th quarter worth $53,000. LPL Financial LLC acquired a new position in ProShares UltraShort Silver in the fourth quarter valued at $53,000. Foundations Investment Advisors LLC purchased a new position in ProShares UltraShort Silver during the fourth quarter worth about $60,000. Mission Wealth Management LP purchased a new position in ProShares UltraShort Silver during the fourth quarter worth about $107,000. Finally, Bank of America Corp DE boosted its stake in ProShares UltraShort Silver by 10,161.9% in the 2nd quarter. Bank of America Corp DE now owns 4,310 shares of the exchange traded fund’s stock worth $111,000 after buying an additional 4,268 shares during the last quarter.

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.