ProShares UltraShort Gold (NYSEARCA:GLL) Sees Significant Increase in Short Interest

ProShares UltraShort Gold (NYSEARCA:GLL) saw a significant increase in short interest in August. As of August 14th, there was short interest totaling 384,911 shares, an increase of 57.9% from the July 30th total of 243,757 shares. Currently, 8.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,619,051 shares, the short-interest ratio is currently 0.1 days.

ProShares UltraShort Gold Price Performance

Shares of GLL opened at $23.02 on Wednesday. ProShares UltraShort Gold has a one year low of $15.60 and a one year high of $40.22. The business’s 50 day simple moving average is $24.59 and its 200-day simple moving average is $21.89.

Hedge Funds Weigh In On ProShares UltraShort Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new stake in shares of ProShares UltraShort Gold in the second quarter valued at $55,000. NewEdge Advisors LLC acquired a new position in ProShares UltraShort Gold during the 4th quarter worth about $77,000. Bank of America Corp DE lifted its position in ProShares UltraShort Gold by 55,280.0% during the 2nd quarter. Bank of America Corp DE now owns 8,307 shares of the exchange traded fund’s stock worth $185,000 after buying an additional 8,292 shares in the last quarter. Mission Wealth Management LP bought a new stake in ProShares UltraShort Gold during the 4th quarter worth about $391,000. Finally, Two Sigma Securities LLC bought a new stake in ProShares UltraShort Gold during the 2nd quarter worth about $336,000.

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.