ProShares UltraShort Gold Miners (GDXS)
ProShares UltraShort Gold Miners operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in Bethesda, MD, US. The stock last traded at $7.05, down 5.53% on the session, giving a market capitalisation of $1.3M. Its beta of 0.27 implies it has historically moved less than the broad market.
This investment product aims to deliver daily returns, before accounting for fees and operating expenses, that precisely mirror two times the opposite (-2x) daily movement of the NYSE Arca Gold Miners Index. To achieve this goal, the fund strategically invests in a range of financial instruments that ProShare Advisors believes will collectively produce daily outcomes consistent with its declared objective. The reference benchmark, the NYSE Arca Gold Miners Index, is a modified market-capitalization weighted index predominantly made up of publicly listed companies involved in gold and silver mining. It is also important to note that this fund operates without diversification.
ProShares UltraShort Gold Miners is most often compared with the following Financial Services names: