ProShares UltraShort Silver (NYSEARCA:ZSL) Shares Up 10.2% – Should You Buy?

Shares of ProShares UltraShort Silver (NYSEARCA:ZSL) rose 10.2% during trading on Tuesday . The stock traded as high as $2.42 and last traded at $2.4240. Approximately 64,806,224 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 314,580,094 shares. The stock had previously closed at $2.20.

ProShares UltraShort Silver Price Performance

The stock’s 50 day moving average price is $4.76 and its 200 day moving average price is $12.73.

Institutional Investors Weigh In On ProShares UltraShort Silver

Large investors have recently modified their holdings of the business. Altfest L J & Co. Inc. purchased a new position in ProShares UltraShort Silver during the fourth quarter valued at $2,579,000. Flow Traders U.S. LLC lifted its stake in shares of ProShares UltraShort Silver by 159.2% in 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 purchasing an additional 31,120 shares during the last quarter. Mission Wealth Management LP acquired a new position in ProShares UltraShort Silver during the 4th quarter worth about $107,000. Foundations Investment Advisors LLC purchased a new position in ProShares UltraShort Silver in the fourth quarter valued at $60,000. Finally, Aprio Wealth Management LLC purchased a new position in shares of ProShares UltraShort Silver in the 4th quarter valued at about $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.