ProShares UltraShort Gold (NYSEARCA:GLL) Short Interest Up 57.9% in August

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Saba Capital Management L.P. bought a new stake in shares of ProShares UltraShort Gold in the 4th quarter valued at about $9,479,000. Raffles Associates LP bought a new position in shares of ProShares UltraShort Gold during the fourth quarter worth about $5,884,000. Hamilton Wealth LLC bought a new position in shares of ProShares UltraShort Gold during the first quarter worth about $3,795,000. Simplex Trading LLC lifted its stake in shares of ProShares UltraShort Gold by 3,304.2% in the fourth quarter. Simplex Trading LLC now owns 149,072 shares of the exchange traded fund’s stock worth $3,898,000 after acquiring an additional 144,693 shares during the period. Finally, IMC Chicago LLC acquired a new position in shares of ProShares UltraShort Gold in the second quarter worth approximately $3,824,000.

ProShares UltraShort Gold Trading Down 2.8%

Shares of NYSEARCA:GLL opened at $22.37 on Thursday. ProShares UltraShort Gold has a 52 week low of $15.60 and a 52 week high of $39.02. The firm’s fifty day moving average is $24.49 and its 200-day moving average is $21.91.

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.