ProShares UltraShort Gold (NYSEARCA:GLL) Short Interest Down 59.1% in July

ProShares UltraShort Gold (NYSEARCA:GLL) was the target of a large decline in short interest in July. As of July 15th, there was short interest totaling 312,244 shares, a decline of 59.1% from the June 30th total of 763,723 shares. Based on an average daily volume of 1,506,732 shares, the short-interest ratio is currently 0.2 days. Currently, 6.5% of the company’s stock are sold short.

Institutional Investors Weigh In On ProShares UltraShort Gold

Large investors have recently made changes to their positions in the stock. Hamilton Wealth LLC acquired a new stake in shares of ProShares UltraShort Gold during the first quarter worth $1,265,000. Group One Trading LLC bought a new position in ProShares UltraShort Gold during the 1st quarter worth about $366,000. NewEdge Advisors LLC bought a new position in ProShares UltraShort Gold during the 4th quarter worth about $77,000. Saba Capital Management L.P. bought a new position in ProShares UltraShort Gold during the 4th quarter worth about $9,479,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of ProShares UltraShort Gold in the 4th quarter valued at about $1,516,000.

ProShares UltraShort Gold Price Performance

NYSEARCA GLL traded down $0.18 during trading hours on Wednesday, reaching $26.61. 1,071,497 shares of the company’s stock were exchanged, compared to its average volume of 5,774,921. The company’s 50-day moving average is $24.78 and its two-hundred day moving average is $21.46. ProShares UltraShort Gold has a one year low of $15.60 and a one year high of $45.92.

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.