Investors Purchase High Volume of Call Options on ProShares UltraShort Gold (NYSEARCA:GLL)

ProShares UltraShort Gold (NYSEARCA:GLL) was the recipient of some unusual options trading activity on Monday. Investors bought 2,515 call options on the company. This represents an increase of approximately 701% compared to the typical volume of 314 call options.

Institutional Investors Weigh In On ProShares UltraShort Gold

A hedge fund recently bought a new stake in ProShares UltraShort Gold stock. Prosperity Wealth Management Inc. bought a new position in shares of ProShares UltraShort Gold (NYSEARCA:GLL) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 23,597 shares of the exchange traded fund’s stock, valued at approximately $299,000. Prosperity Wealth Management Inc. owned 0.87% of ProShares UltraShort Gold at the end of the most recent quarter.

ProShares UltraShort Gold Price Performance

NYSEARCA:GLL traded down $0.62 during trading hours on Monday, reaching $10.58. 5,720,939 shares of the company traded hands, compared to its average volume of 423,724. The firm’s 50-day moving average is $13.61 and its 200-day moving average is $15.67. ProShares UltraShort Gold has a 1-year low of $10.49 and a 1-year high of $22.35.

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.