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

ProShares UltraShort Gold (NYSEARCA:GLL) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 788,983 shares, an increase of 21.2% from the February 12th total of 651,204 shares. Based on an average daily volume of 5,418,045 shares, the days-to-cover ratio is presently 0.1 days. Approximately 9.0% of the company’s stock are sold short. Approximately 9.0% of the company’s stock are sold short. Based on an average daily volume of 5,418,045 shares, the days-to-cover ratio is presently 0.1 days.

ProShares UltraShort Gold Trading Up 0.6%

NYSEARCA GLL opened at $18.13 on Wednesday. The firm’s 50 day moving average price is $19.09 and its 200-day moving average price is $26.30. ProShares UltraShort Gold has a 52-week low of $15.60 and a 52-week high of $56.96.

Institutional Trading of ProShares UltraShort Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in ProShares UltraShort Gold in the 2nd quarter valued at $55,000. NewEdge Advisors LLC acquired a new position in ProShares UltraShort Gold during the fourth quarter worth $77,000. Bank of America Corp DE boosted its stake in shares of ProShares UltraShort Gold by 55,280.0% in the second quarter. Bank of America Corp DE now owns 8,307 shares of the exchange traded fund’s stock worth $185,000 after acquiring an additional 8,292 shares during the last quarter. Mission Wealth Management LP purchased a new position in ProShares UltraShort Gold in the 4th quarter valued at $391,000. Finally, Two Sigma Securities LLC acquired a new stake in ProShares UltraShort Gold during the 2nd quarter worth $336,000.

ProShares UltraShort Gold Company Profile

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.