Group One Trading LLC cut its holdings in ProShares Ultra Gold (NYSEARCA:UGL – Free Report) by 71.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,998 shares of the company’s stock after selling 30,704 shares during the period. Group One Trading LLC owned approximately 0.08% of ProShares Ultra Gold worth $737,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of UGL. China Universal Asset Management Co. Ltd. raised its stake in ProShares Ultra Gold by 397.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 386,800 shares of the company’s stock worth $21,475,000 after purchasing an additional 309,000 shares in the last quarter. Jump Financial LLC acquired a new position in shares of ProShares Ultra Gold during the 4th quarter worth approximately $9,073,000. Genesis Financial Group LLC acquired a new position in shares of ProShares Ultra Gold during the 4th quarter worth approximately $3,155,000. IMC Chicago LLC increased its holdings in shares of ProShares Ultra Gold by 36.1% during the fourth quarter. IMC Chicago LLC now owns 59,158 shares of the company’s stock worth $3,284,000 after purchasing an additional 15,707 shares during the period. Finally, Prosperitas Financial LLC increased its holdings in shares of ProShares Ultra Gold by 143.7% during the fourth quarter. Prosperitas Financial LLC now owns 19,067 shares of the company’s stock worth $1,059,000 after purchasing an additional 11,242 shares during the period.
ProShares Ultra Gold Trading Up 2.4%
NYSEARCA UGL opened at $46.13 on Thursday. ProShares Ultra Gold has a 1-year low of $33.54 and a 1-year high of $90.40. The company has a 50 day moving average of $49.54 and a 200-day moving average of $60.57.
Key ProShares Ultra Gold News
- Positive Sentiment: Spot gold climbed back above $4,130 and traded near resistance around $4,160-$4,200, supported by technical buying, short covering, and defensive demand. Gold rallies as buyers test $4,160, oil lifts yields – Kitco PM Report
- Positive Sentiment: Multiple market strategists and fund managers said the long-term bull case for gold remains intact, citing central-bank buying, inflation risks, geopolitical uncertainty, and lower real rates. John Paulson says we are in the early stages of a long-term bull market for gold
- Positive Sentiment: Gold has broken above key technical resistance, and analysts say a confirmed move above the next levels could open the door to further upside. Gold (XAU/USD) Price Forecast: Breakout Opens the Door to Higher Targets
- Positive Sentiment: Gold continues to hold its rebound ahead of the Federal Reserve meeting, with buyers shrugging off higher rates and focusing on inflation, oil, and policy uncertainty. Gold (XAU/USD) Price Forecast: Can Gold Hold Its Rally Before the Fed?
- Neutral Sentiment: Some commentary noted that rising Treasury yields, a firmer dollar, and elevated crude prices could still challenge gold’s rally if risk sentiment improves. Gold rallies as buyers ignore higher yields, oil shock – Kitco PM Report
- Negative Sentiment: Gold is still working to recover from a sharp pullback earlier in the year, and some analysts say the metal must clear resistance before the broader uptrend is fully confirmed. Gold’s long-term investment case is strong, and miners offer greatest upside – VanEck’s Casanova
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.
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