ProShares UltraShort Silver (NYSEARCA:ZSL) Stock Price Down 6.1% – Should You Sell?

ProShares UltraShort Silver (NYSEARCA:ZSL)’s stock price were down 6.1% on Friday . The company traded as low as $2.18 and last traded at $2.2260. Approximately 27,441,746 shares were traded during trading, a decline of 90% from the average daily volume of 284,771,938 shares. The stock had previously closed at $2.37.

ProShares UltraShort Silver Trading Down 14.8%

The company’s 50 day moving average price is $3.68 and its 200-day moving average price is $11.47.

ProShares UltraShort Silver’s stock is going to reverse split on the morning of Thursday, February 26th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, February 25th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZSL. Aprio Wealth Management LLC acquired a new stake in shares of ProShares UltraShort Silver in the fourth quarter worth $53,000. LPL Financial LLC acquired a new stake in ProShares UltraShort Silver in the 4th quarter valued at $53,000. Foundations Investment Advisors LLC purchased a new position in ProShares UltraShort Silver in the fourth quarter valued at about $60,000. Mission Wealth Management LP purchased a new position in ProShares UltraShort Silver in the fourth quarter valued at about $107,000. Finally, Bank of America Corp DE lifted its stake 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 purchasing an additional 4,268 shares in the last quarter.

ProShares UltraShort Silver Company Profile

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.