Short Interest in ProShares UltraShort Gold (NYSEARCA:GLL) Increases By 20.2%

ProShares UltraShort Gold (NYSEARCA:GLL) saw a significant increase in short interest in March. As of March 31st, there was short interest totaling 850,260 shares, an increase of 20.2% from the March 15th total of 707,417 shares. Based on an average daily volume of 8,464,168 shares, the days-to-cover ratio is presently 0.1 days. Currently, 14.8% of the company’s stock are sold short.

Institutional Investors Weigh In On ProShares UltraShort Gold

Several institutional investors have recently bought and sold shares of the company. Genesis Financial Group LLC acquired a new stake in shares of ProShares UltraShort Gold in the 4th quarter worth $2,395,000. Saba Capital Management L.P. purchased a new stake in ProShares UltraShort Gold in the fourth quarter valued at about $9,479,000. Quadrature Capital Ltd purchased a new stake in ProShares UltraShort Gold in the fourth quarter valued at about $1,516,000. Jump Financial LLC acquired a new stake in ProShares UltraShort Gold in the fourth quarter worth about $1,536,000. Finally, Raffles Associates LP acquired a new stake in ProShares UltraShort Gold in the fourth quarter worth about $5,884,000.

ProShares UltraShort Gold Stock Down 2.5%

Shares of NYSEARCA:GLL traded down $0.49 during trading on Friday, reaching $18.73. The stock had a trading volume of 3,700,191 shares, compared to its average volume of 8,822,941. The firm’s 50-day simple moving average is $18.92 and its 200 day simple moving average is $23.84. ProShares UltraShort Gold has a one year low of $15.60 and a one year high of $48.48.

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.