Shares of ProShares UltraShort Silver (NYSEARCA:ZSL – Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $15.92, but opened at $17.46. ProShares UltraShort Silver shares last traded at $18.0730, with a volume of 12,726,439 shares.
ProShares UltraShort Silver Stock Up 9.9%
The stock has a 50 day moving average of $31.63 and a 200 day moving average of $106.38.
Institutional Investors Weigh In On ProShares UltraShort Silver
A number of hedge funds have recently added to or reduced their stakes in ZSL. Altfest L J & Co. Inc. acquired a new position in shares of ProShares UltraShort Silver during the fourth quarter valued at approximately $2,579,000. Jump Financial LLC acquired a new position in shares of ProShares UltraShort Silver during the 4th quarter valued at $998,000. StoneX Group Inc. bought a new stake in shares of ProShares UltraShort Silver in the 4th quarter worth $320,000. Raffles Associates LP acquired a new stake in ProShares UltraShort Silver in the 4th quarter valued at about $267,000. Finally, Barclays PLC acquired a new position in shares of ProShares UltraShort Silver in the 4th quarter valued at about $181,000.
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.
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