ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Gap Down – Should You Sell?

ProShares UltraShort Silver (NYSEARCA:ZSL)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $27.27, but opened at $24.62. ProShares UltraShort Silver shares last traded at $24.73, with a volume of 4,265,752 shares changing hands.

ProShares UltraShort Silver Trading Up 13.8%

The firm’s fifty day moving average price is $22.59 and its 200-day moving average price is $82.07.

Hedge Funds Weigh In On ProShares UltraShort Silver

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aprio Wealth Management LLC acquired a new stake in shares of ProShares UltraShort Silver in the 4th quarter valued at $53,000. LPL Financial LLC bought a new position in ProShares UltraShort Silver during the 4th quarter valued at about $53,000. Walser Wealth Management Company A Ltd Liability Co bought a new position in ProShares UltraShort Silver during the 4th quarter valued at about $60,000. Foundations Investment Advisors LLC acquired a new position in ProShares UltraShort Silver in the fourth quarter valued at about $60,000. Finally, Mission Wealth Management LP acquired a new position in ProShares UltraShort Silver in the fourth quarter valued at about $107,000.

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.