Genesis Financial Group LLC Acquires New Stake in ProShares UltraShort Gold $GLL

Genesis Financial Group LLC bought a new position in ProShares UltraShort Gold (NYSEARCA:GLL) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 91,587 shares of the exchange traded fund’s stock, valued at approximately $2,395,000. ProShares UltraShort Gold makes up approximately 1.4% of Genesis Financial Group LLC’s portfolio, making the stock its 22nd biggest holding. Genesis Financial Group LLC owned 2.78% of ProShares UltraShort Gold at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GLL. JPMorgan Chase & Co. bought a new position in shares of ProShares UltraShort Gold during the second quarter valued at $55,000. Bank of America Corp DE boosted its stake in ProShares UltraShort Gold by 55,280.0% in the 2nd quarter. Bank of America Corp DE now owns 8,307 shares of the exchange traded fund’s stock worth $185,000 after purchasing an additional 8,292 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in ProShares UltraShort Gold during the 2nd quarter valued at about $336,000. Finally, BNP Paribas Financial Markets purchased a new stake in ProShares UltraShort Gold during the 2nd quarter valued at about $809,000.

ProShares UltraShort Gold Trading Up 3.7%

Shares of NYSEARCA GLL opened at $20.21 on Friday. The firm’s 50 day moving average price is $18.77 and its 200-day moving average price is $25.08. ProShares UltraShort Gold has a 52-week low of $15.60 and a 52-week high of $56.96.

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.