ProShares UltraShort Gold (NYSEARCA:GLL) Share Price Pass Above Two Hundred Day Moving Average – Here’s What Happened

ProShares UltraShort Gold (NYSEARCA:GLL)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.95 and traded as high as $22.63. ProShares UltraShort Gold shares last traded at $21.84, with a volume of 3,576,878 shares changing hands.

ProShares UltraShort Gold Price Performance

The business has a fifty day simple moving average of $20.66 and a 200 day simple moving average of $21.94.

Institutional Investors Weigh In On ProShares UltraShort Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hamilton Wealth LLC acquired a new stake in ProShares UltraShort Gold in the first quarter valued at $3,795,000. Group One Trading LLC acquired a new position in shares of ProShares UltraShort Gold during the 1st quarter worth $366,000. NewEdge Advisors LLC acquired a new position in shares of ProShares UltraShort Gold during the 4th quarter worth $77,000. Saba Capital Management L.P. acquired a new position in shares of ProShares UltraShort Gold during the 4th quarter worth $9,479,000. Finally, Quadrature Capital Ltd acquired a new position in shares of ProShares UltraShort Gold during the 4th quarter worth $1,516,000.

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.