ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Break Above 200-Day Moving Average – Here’s Why

ProShares UltraShort Silver (NYSEARCA:ZSL) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $24.69 and traded as high as $27.98. ProShares UltraShort Silver shares last traded at $27.67, with a volume of 4,804,762 shares traded.

ProShares UltraShort Silver Stock Up 1.4%

The company has a fifty day simple moving average of $25.31 and a 200-day simple moving average of $24.74.

Institutional Investors Weigh In On ProShares UltraShort Silver

An institutional investor recently bought a new position in ProShares UltraShort Silver stock. Walser Wealth Management Company A Ltd Liability Co bought a new position in shares of ProShares UltraShort Silver (NYSEARCA:ZSL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,324 shares of the exchange traded fund’s stock, valued at approximately $60,000.

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.