ProShares Ultra Gold (NYSEARCA:UGL) Sees Large Growth in Short Interest

ProShares Ultra Gold (NYSEARCA:UGL) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 984,585 shares, an increase of 72.5% from the September 30th total of 570,803 shares. Approximately 6.2% of the company’s stock are sold short. Based on an average daily volume of 2,553,288 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of ProShares Ultra Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Advisors Network LLC purchased a new position in ProShares Ultra Gold during the 1st quarter valued at about $246,000. NewEdge Advisors LLC boosted its stake in ProShares Ultra Gold by 36.1% during the second quarter. NewEdge Advisors LLC now owns 5,000 shares of the company’s stock worth $219,000 after acquiring an additional 1,325 shares in the last quarter. Allen Capital Group LLC boosted its stake in ProShares Ultra Gold by 8.9% during the first quarter. Allen Capital Group LLC now owns 6,113 shares of the company’s stock worth $376,000 after acquiring an additional 498 shares in the last quarter. Corient Private Wealth LLC boosted its stake in ProShares Ultra Gold by 17.5% during the fourth quarter. Corient Private Wealth LLC now owns 8,225 shares of the company’s stock worth $457,000 after acquiring an additional 1,225 shares in the last quarter. Finally, MGO One Seven LLC grew its holdings in ProShares Ultra Gold by 6.6% in the third quarter. MGO One Seven LLC now owns 10,654 shares of the company’s stock worth $487,000 after purchasing an additional 658 shares during the period.

ProShares Ultra Gold Trading Down 1.2%

UGL opened at $40.26 on Wednesday. The stock has a fifty day simple moving average of $47.52 and a two-hundred day simple moving average of $56.10. ProShares Ultra Gold has a 12-month low of $39.21 and a 12-month high of $90.40.

ProShares Ultra Gold News Summary

Here are the key news stories impacting ProShares Ultra Gold this week:

• Positive Sentiment: Central-bank purchases accelerated in the third quarter, while overall gold demand remained near record levels. The World Gold Council said central-bank buying and investment demand could help support gold through year-end. Gold demand remains near record highs as central bank buying surges
• Positive Sentiment: Commerzbank views October’s sharp selloff as potentially excessive, arguing that fundamental factors for higher gold prices remain in place. That view could encourage buyers if gold stabilizes. Gold’s October correction was overdone
• Neutral Sentiment: Gold has held key support near $3,870, but technical analysts warn that bearish signals and resistance levels leave the metal vulnerable to further declines. Whether support holds is important for UGL’s near-term direction. Gold price forecast: Critical support holds amid growing downside risk
• Negative Sentiment: Recent reports describe gold pulling back as Treasury yields rise, with inflation concerns and expectations for higher interest rates pressuring the metal. Gold also remains below important resistance, and bearish technical momentum could prolong weakness. Gold pulls back as selling resumes

ProShares Ultra Gold Company Profile

ProShares Ultra Gold (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance. The Fund generally invests in financial instruments as a substitute for investing directly in a commodity or currency in order to gain exposure to the commodity index, commodity or currency. The Funds may purchase United States Treasury Bills, agency securities, and other high-credit quality short-term fixed income or similar securities with original maturities of one year or less.