ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Gap Up – What’s Next?

ProShares UltraShort Silver (NYSEARCA:ZSL)’s share price gapped up prior to trading on Friday . The stock had previously closed at $1.58, but opened at $2.10. ProShares UltraShort Silver shares last traded at $2.0930, with a volume of 154,509,242 shares traded.

ProShares UltraShort Silver Trading Up 30.4%

The company has a fifty day moving average price of $5.95 and a two-hundred day moving average price of $13.84.

Institutional Investors Weigh In On ProShares UltraShort Silver

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in shares of ProShares UltraShort Silver by 10,161.9% during the second quarter. Bank of America Corp DE now owns 4,310 shares of the exchange traded fund’s stock worth $111,000 after acquiring an additional 4,268 shares during the period. Aprio Wealth Management LLC bought a new position in ProShares UltraShort Silver during the 4th quarter worth about $53,000. Flow Traders U.S. LLC raised its stake in shares of ProShares UltraShort Silver by 159.2% in the 2nd quarter. Flow Traders U.S. LLC now owns 50,666 shares of the exchange traded fund’s stock valued at $1,308,000 after purchasing an additional 31,120 shares during the period. Finally, Altfest L J & Co. Inc. acquired a new stake in shares of ProShares UltraShort Silver in the 4th quarter valued at about $2,579,000.

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.