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

ProShares UltraShort Gold (NYSEARCA:GLL) saw unusually large options trading activity on Monday. Stock investors purchased 4,853 call options on the stock. This is an increase of 434% compared to the average volume of 908 call options.

Hedge Funds Weigh In On ProShares UltraShort Gold

An institutional investor recently bought a new position in ProShares UltraShort Gold stock. Prosperity Wealth Management Inc. bought a new position in shares of ProShares UltraShort Gold (NYSEARCA:GLL) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 Stock Up 5.2%

ProShares UltraShort Gold stock traded up $0.57 during mid-day trading on Monday, reaching $11.59. 2,627,743 shares of the company were exchanged, compared to its average volume of 849,197. ProShares UltraShort Gold has a twelve month low of $10.39 and a twelve month high of $22.28. The firm’s 50-day simple moving average is $12.58 and its two-hundred day simple moving average is $15.06.

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.