ProShares UltraShort Gold (NYSEARCA:GLL) Sees Significant Decrease in Short Interest

ProShares UltraShort Gold (NYSEARCA:GLL) saw a significant decline in short interest in December. As of December 15th, there was short interest totaling 253,550 shares, a decline of 51.6% from the November 30th total of 524,216 shares. Based on an average trading volume of 1,236,794 shares, the short-interest ratio is presently 0.2 days. Approximately 8.5% of the shares of the stock are short sold. Approximately 8.5% of the shares of the stock are short sold. Based on an average trading volume of 1,236,794 shares, the short-interest ratio is presently 0.2 days.

ProShares UltraShort Gold Trading Up 9.3%

NYSEARCA:GLL traded up $2.21 during midday trading on Monday, reaching $25.90. 3,203,570 shares of the stock traded hands, compared to its average volume of 900,374. The company has a fifty day moving average of $28.00 and a 200 day moving average of $35.76. ProShares UltraShort Gold has a 12 month low of $23.44 and a 12 month high of $71.96.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GLL. Sykon Capital LLC bought a new stake in ProShares UltraShort Gold in the 2nd quarter worth about $1,596,000. BNP Paribas Financial Markets bought a new stake in shares of ProShares UltraShort Gold in the second quarter worth approximately $809,000. Two Sigma Securities LLC purchased a new position in shares of ProShares UltraShort Gold during the second quarter valued at approximately $336,000. Bank of America Corp DE lifted its position in 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 valued at $185,000 after purchasing an additional 8,292 shares during the period. Finally, Signaturefd LLC purchased a new stake in ProShares UltraShort Gold in the second quarter worth approximately $56,000.

About ProShares UltraShort Gold

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.