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ProShares Ultra Short Gold ETF
The ProShares Ultra Short Gold ETF is a double short gold ETF that seeks to exhibit daily investment results that are double the inverse price move of gold bullion measured in US dollars. Hence if gold bullion prices go up by 1%, the Proshares Ultra Short Gold ETF is expected to decline by 2%. This Ultra short gold etf seeks to achieves this goal by holding gold futures as well as forward contracts in gold. Because the goal of this ETF is to provide double inverse daily moves in relation to the price of gold bullion, over long term periods however, there is a wide tracking error and it should not be construed that this double short etf will inversely track the price of gold over extended periods of time. This ETF is best used for short term trading purposes.
The ProShares Ultra Short Gold ETF (GLL) vital stats:
Symbol: GLL Exchange: NYSE Arca Expense Ratio: 0.95% Dividend Distribution: NA NAV or AUM: ~$72 Million as of 6/30/2010 CUSIP: 74347W718 Inception Date: 12/1/2008
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