Short Interest in ProShares UltraShort Gold (NYSEARCA:GLL) Decreases By 59.1%

ProShares UltraShort Gold (NYSEARCA:GLL) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 312,244 shares, a drop of 59.1% from the June 30th total of 763,723 shares. Approximately 6.5% of the shares of the company are short sold. Based on an average daily trading volume, of 1,506,732 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of ProShares UltraShort Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new position in shares of ProShares UltraShort Gold in the second quarter valued at $55,000. NewEdge Advisors LLC bought a new stake in shares of ProShares UltraShort Gold during the 4th quarter worth $77,000. Bank of America Corp DE grew its holdings in shares of ProShares UltraShort Gold by 55,280.0% in the 2nd quarter. Bank of America Corp DE now owns 8,307 shares of the exchange traded fund’s stock worth $185,000 after acquiring an additional 8,292 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of ProShares UltraShort Gold in the 2nd quarter worth $336,000. Finally, Group One Trading LLC acquired a new position in shares of ProShares UltraShort Gold in the 1st quarter worth $366,000.

ProShares UltraShort Gold Price Performance

GLL opened at $26.40 on Monday. The business’s 50 day moving average is $24.59 and its 200-day moving average is $21.44. ProShares UltraShort Gold has a twelve month low of $15.60 and a twelve month high of $45.92.

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. 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.