ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Gap Up – Time to Buy?

ProShares UltraShort Silver (NYSEARCA:ZSL) gapped up before the market opened on Thursday . The stock had previously closed at $2.10, but opened at $2.77. ProShares UltraShort Silver shares last traded at $2.8490, with a volume of 97,845,177 shares traded.

ProShares UltraShort Silver Stock Up 27.9%

The company has a 50 day moving average of $5.20 and a 200 day moving average of $13.20.

Institutional Trading of ProShares UltraShort Silver

Several institutional investors have recently added to or reduced their stakes in the stock. Flow Traders U.S. LLC boosted its stake in ProShares UltraShort Silver by 159.2% during the 2nd quarter. Flow Traders U.S. LLC now owns 50,666 shares of the exchange traded fund’s stock valued at $1,308,000 after acquiring an additional 31,120 shares during the last quarter. Bank of America Corp DE raised its stake in ProShares UltraShort Silver by 10,161.9% during the second quarter. Bank of America Corp DE now owns 4,310 shares of the exchange traded fund’s stock valued at $111,000 after buying an additional 4,268 shares in the last quarter. Altfest L J & Co. Inc. bought a new position in ProShares UltraShort Silver during the 4th quarter worth approximately $2,579,000. Finally, Aprio Wealth Management LLC bought a new position in ProShares UltraShort Silver during the 4th quarter worth approximately $53,000.

ProShares UltraShort Silver Company Profile

ProShares UltraShort Silver (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of silver bullion as measured by the United States dollar fixing price for delivery in London. The Fund will not directly or physically hold the underlying silver, but instead will seek exposure to silver through the use of financial instruments, whose value is based on the underlying price of silver to pursue their investment objective. The benchmark price of silver will be the United States dollar price of silver bullion as measured by the London fixing price per troy ounce of unallocated silver bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery.