ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Gap Up – What’s Next?

Shares of ProShares UltraShort Silver (NYSEARCA:ZSL) gapped up before the market opened on Tuesday . The stock had previously closed at $2.51, but opened at $2.69. ProShares UltraShort Silver shares last traded at $2.7860, with a volume of 58,982,880 shares changing hands.

ProShares UltraShort Silver Trading Up 9.0%

The firm has a fifty day moving average of $4.11 and a two-hundred day moving average of $11.99.

ProShares UltraShort Silver’s stock is scheduled to reverse split on the morning of Thursday, February 26th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, February 25th.

Institutional Trading of ProShares UltraShort Silver

Hedge funds and other institutional investors have recently modified their holdings of the business. Jump Financial LLC purchased a new position in ProShares UltraShort Silver during the 4th quarter valued at about $998,000. Raffles Associates LP purchased a new position in ProShares UltraShort Silver during the fourth quarter valued at $267,000. Barclays PLC purchased a new position in ProShares UltraShort Silver during the fourth quarter valued at $181,000. HRT Financial LP bought a new stake in ProShares UltraShort Silver in the fourth quarter worth $156,000. Finally, StoneX Group Inc. bought a new position in shares of ProShares UltraShort Silver during the fourth quarter valued at $320,000.

About ProShares UltraShort Silver

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.