ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Gap Up – Here’s What Happened

Shares of ProShares UltraShort Silver (NYSEARCA:ZSL) gapped up before the market opened on Thursday . The stock had previously closed at $22.58, but opened at $25.53. ProShares UltraShort Silver shares last traded at $25.26, with a volume of 4,014,549 shares trading hands.

ProShares UltraShort Silver Price Performance

The business’s 50 day moving average is $22.21 and its 200-day moving average is $75.10.

Institutional Trading of ProShares UltraShort Silver

Hedge funds have recently added to or reduced their stakes in the business. Altfest L J & Co. Inc. acquired a new stake in shares of ProShares UltraShort Silver in the fourth quarter worth $2,579,000. Jump Financial LLC acquired a new position in shares of ProShares UltraShort Silver during the fourth quarter valued at about $998,000. StoneX Group Inc. acquired a new stake in ProShares UltraShort Silver during the fourth quarter worth about $320,000. Flow Traders U.S. LLC raised its holdings in 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 acquiring an additional 31,120 shares in the last quarter. Finally, Raffles Associates LP acquired a new stake in shares of ProShares UltraShort Silver during the 4th quarter worth approximately $267,000.

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.