ProShares UltraShort Silver (NYSEARCA:ZSL) Stock Pass Above 200 Day Moving Average – Here’s Why

ProShares UltraShort Silver (NYSEARCA:ZSL)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.22 and traded as high as $34.67. ProShares UltraShort Silver shares last traded at $34.20, with a volume of 1,848,625 shares changing hands.

ProShares UltraShort Silver Price Performance

The business has a fifty day simple moving average of $25.10 and a two-hundred day simple moving average of $25.28.

Hedge Funds Weigh In On ProShares UltraShort Silver

Several institutional investors have recently made changes to their positions in ZSL. Walser Wealth Management Company A Ltd Liability Co purchased a new position in shares of ProShares UltraShort Silver in the fourth quarter worth approximately $60,000. XTX Topco Ltd bought a new position in ProShares UltraShort Silver in the fourth quarter worth approximately $129,000. Jump Financial LLC bought a new position in ProShares UltraShort Silver in the fourth quarter worth approximately $998,000. Raffles Associates LP purchased a new position in shares of ProShares UltraShort Silver during the 4th quarter worth $267,000. Finally, Barclays PLC purchased a new position in shares of ProShares UltraShort Silver during the 4th quarter worth $181,000.

About ProShares UltraShort Silver

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.