ProShares Ultra Gold (UGL)
ARCA ARCA Primary Summary
UGL Chart
UGL: Leveraged Gold ETF Slides As Yields And Dollar Climb
I rate the ProShares Ultra Gold a Sell: it pays no dividends, has 58% volatility, and trades below its 20-, 50-, and 200-day averages. UGL targets 2x the daily return of the Bloomberg Gold Subindex through swaps and futures; the fund has about $704M in assets and a 0.95% expense ratio. Gold fell to a 10-week low on October 14 after September CPI hit 3.7%, with a strong dollar and a 10-year yield near 5.2%.
UGL vs. GLL: The Leveraged Gold Trade for Every Market Direction
ProShares Ultra Gold (NYSEARCA:UGL) and ProShares UltraShort Gold (NYSEARCA:GLL) look like mirror images of the same trade, and in one sense they are.
The Hidden Danger in Leveraged Gold ETFs Like UGL and GLL
Gold ETFs come in flavors, and the leveraged ones bite. ProShares Ultra Gold (NYSEARCA:UGL) aims to deliver twice the daily move in gold bullion, while ProShares UltraShort Gold (NYSEARCA:GLL) targets the opposite: negative two times the daily move.
ProShares Ultra Gold Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
 Curtis Ellergodt Rothschild Investment LLC | 3,000 | $70,110 | $132,960 | $62,850 | 89.64% |
 Li Peng China Universal Asset Management Co. Ltd. | 166,300 | $9.23M | $7.57M | -$1.66M | -18.01% |
 John Keene Keene & Associates Inc. | 16,000 | $221,120 | $727,760 | $506,640 | 229.12% |
 Andrew Nall PMV Capital Advisers, LLC | 31,306 | $731,621.22 | $1.42M | $687,479.76 | 93.97% |
 Kevin Bresler TD Waterhouse Canada Inc. | 120 | $7,584 | $5,508 | -$2,076 | -27.37% |
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ProShares Ultra Gold Profile
| ARCA Exchange | US Country |
Overview
The fund aims to achieve its investment goal by primarily engaging in various Financial Instruments including swap agreements, futures contracts, forward contracts, and option contracts, based on its benchmark index. It operates under normal market conditions and adjusts its investment strategies according to the discretion of the Sponsor. The fund is not designed to invest directly in commodities, instead, it focuses on derivatives and financial instruments that mirror the performance of its benchmark.
Products and Services
- Swap Agreements: These are contracts through which two parties exchange financial instruments or cash flows for a set period. This tool allows the fund to gain exposure to the underlying asset without owning it directly.
- Futures Contracts: A futures contract is a legal agreement to buy or sell a particular commodity or financial instrument at a predetermined price at a specified time in the future. This helps the fund in hedging against price movements or to speculate on future price directions.
- Forward Contracts: Similar to futures contracts, forward contracts are agreements to buy or sell an asset at a future date for a price agreed upon today. Unlike futures, forwards are traded over-the-counter and can be customized to fit the needs of the fund, adding flexibility to its investment strategy.
- Option Contracts: Options give the fund the right, but not the obligation, to buy (call options) or sell (put options) a security or other financial asset at an agreed-upon price during a certain period or on a specific date. This can be used for hedging purposes or to speculate on the price movement of the underlying asset.
Contact Information
