ProShares UltraShort Silver (NYSEARCA:ZSL) Sees Large Drop in Short Interest

ProShares UltraShort Silver (NYSEARCA:ZSL) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 1,881,261 shares, a decline of 26.6% from the March 31st total of 2,561,847 shares. Approximately 20.7% of the shares of the company are sold short. Based on an average daily volume of 6,636,604 shares, the days-to-cover ratio is currently 0.3 days.

ProShares UltraShort Silver Trading Down 5.1%

ZSL traded down $1.15 on Friday, hitting $21.52. 7,897,361 shares of the stock were exchanged, compared to its average volume of 17,866,441. ProShares UltraShort Silver has a 12 month low of $14.40 and a 12 month high of $332.50. The business has a 50-day moving average of $21.74 and a two-hundred day moving average of $56.65.

Hedge Funds Weigh In On ProShares UltraShort Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZSL. Walser Wealth Management Company A Ltd Liability Co bought a new stake in shares of ProShares UltraShort Silver during the fourth quarter worth about $60,000. XTX Topco Ltd bought a new stake in shares of ProShares UltraShort Silver during the fourth quarter worth about $129,000. Jump Financial LLC bought a new stake in shares of ProShares UltraShort Silver during the fourth quarter worth about $998,000. Raffles Associates LP acquired a new position in ProShares UltraShort Silver in the 4th quarter valued at approximately $267,000. Finally, Barclays PLC acquired a new position in ProShares UltraShort Silver in the 4th quarter valued at approximately $181,000.

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.