ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Gap Up – Here’s What Happened

ProShares UltraShort Silver (NYSEARCA:ZSL)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $17.47, but opened at $18.37. ProShares UltraShort Silver shares last traded at $18.70, with a volume of 4,501,477 shares.

ProShares UltraShort Silver Trading Up 6.6%

The company’s 50-day moving average is $26.69 and its two-hundred day moving average is $95.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Aprio Wealth Management LLC purchased a new stake in shares of ProShares UltraShort Silver during the 4th quarter valued at about $53,000. LPL Financial LLC purchased a new position in shares of ProShares UltraShort Silver in the fourth quarter worth approximately $53,000. Walser Wealth Management Company A Ltd Liability Co purchased a new position in shares of ProShares UltraShort Silver in the fourth quarter worth approximately $60,000. Foundations Investment Advisors LLC bought a new stake in ProShares UltraShort Silver during the fourth quarter valued at approximately $60,000. Finally, Mission Wealth Management LP bought a new stake in ProShares UltraShort Silver during the fourth quarter valued at approximately $107,000.

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.