ProShares UltraShort Gold Sees Unusually High Options Volume (NYSEARCA:GLL)

ProShares UltraShort Gold (NYSEARCA:GLL) saw unusually large options trading on Thursday. Traders bought 3,141 call options on the company. This is an increase of 50% compared to the average volume of 2,090 call options.

ProShares UltraShort Gold Price Performance

NYSEARCA:GLL opened at $20.78 on Friday. The company has a 50 day simple moving average of $18.92 and a two-hundred day simple moving average of $26.22. ProShares UltraShort Gold has a fifty-two week low of $15.60 and a fifty-two week high of $56.96.

Institutional Investors Weigh In On ProShares UltraShort Gold

A number of institutional investors have recently modified their holdings of GLL. JPMorgan Chase & Co. bought a new position in ProShares UltraShort Gold during the second quarter worth $55,000. NewEdge Advisors LLC bought a new stake in ProShares UltraShort Gold during the fourth quarter valued at $77,000. Bank of America Corp DE boosted 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 acquiring an additional 8,292 shares during the last quarter. Mission Wealth Management LP acquired a new stake in ProShares UltraShort Gold during the 4th quarter worth about $391,000. Finally, Two Sigma Securities LLC acquired a new stake in ProShares UltraShort Gold during the 2nd quarter worth about $336,000.

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.