Raffles Associates LP Purchases New Stake in ProShares UltraShort Gold (NYSEARCA:GLL)

Raffles Associates LP acquired a new position in shares of ProShares UltraShort Gold (NYSEARCA:GLL) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 30,000 shares of the exchange traded fund’s stock, valued at approximately $520,000.

ProShares UltraShort Gold Stock Performance

Shares of GLL opened at $17.05 on Friday. ProShares UltraShort Gold has a 12 month low of $15.53 and a 12 month high of $28.91. The stock’s 50-day moving average is $16.94 and its two-hundred day moving average is $19.10.

ProShares UltraShort Gold 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.