ProShares UltraShort Gold (NYSEARCA:GLL) Share Price Pass Above 200 Day Moving Average – What’s Next?

ProShares UltraShort Gold (NYSEARCA:GLL)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.32 and traded as high as $25.73. ProShares UltraShort Gold shares last traded at $25.62, with a volume of 928,651 shares traded.

ProShares UltraShort Gold Stock Performance

The stock has a 50-day moving average price of $23.24 and a 200-day moving average price of $21.32.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new position in ProShares UltraShort Gold during the 2nd quarter worth approximately $55,000. NewEdge Advisors LLC bought a new stake in shares of ProShares UltraShort Gold in the 4th quarter valued at $77,000. Bank of America Corp DE increased its position in shares of ProShares UltraShort Gold by 55,280.0% during the second quarter. Bank of America Corp DE now owns 8,307 shares of the exchange traded fund’s stock worth $185,000 after buying an additional 8,292 shares during the period. Mission Wealth Management LP acquired a new stake in shares of ProShares UltraShort Gold during the fourth quarter worth $391,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of ProShares UltraShort Gold during the second quarter worth $336,000.

ProShares UltraShort Gold Company Profile

ProShares UltraShort Gold (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of gold bullion as measured by the United States dollar p.m. fixing price for delivery in London. The Fund will not directly or physically hold the underlying gold, but instead, will seek exposure to gold through the use of financial instruments, whose value is based on the underlying price of gold to pursue their investment objective. The benchmark price of gold will be the United States dollar price of gold bullion as measured by the London afternoon fixing price per troy ounce of unallocated gold bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery.