ProShares UltraShort Silver
ZSL
8 hedge funds and large institutions have $886K invested in ProShares UltraShort Silver in 2025 Q3 according to their latest regulatory filings, with 2 funds opening new positions, 2 increasing their positions, 4 reducing their positions, and 4 closing their positions.
104% more call options, than puts
Call options by funds: $1.53M | Put options by funds: $749K
4.05% less ownership
Funds ownership: 4.05% → 0% (-4.1%)
20% less funds holding
Funds holding: 10 → 8 (-2)
50% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 4
50% less repeat investments, than reductions
Existing positions increased: 2 | Existing positions reduced: 4
92% less capital invested
Capital invested by funds: $10.6M → $886K (-$9.68M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TSS
Two Sigma Securities
New York
|
+$230K |
| 2 |
TRCT
Tower Research Capital (TRC)
New York
|
+$45.4K |
| 3 |
Group One Trading
Chicago,
Illinois
|
+$3.46K |
| 4 |
SIS
Strategic Investment Solutions
Orland Park,
Illinois
|
+$2.16K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$4.32M |
| 2 |
FTUS
Flow Traders U.S.
New York
|
-$1.31M |
| 3 |
Citadel Advisors
Miami,
Florida
|
-$1.08M |
| 4 |
Jane Street
New York
|
-$810K |
| 5 |
IMC Chicago
Chicago,
Illinois
|
-$538K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
1
Jane Street
New York
| $424K | -$810K | -3,750 | -58% |
|
|
2
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| $246K | -$4.32M | -19,993 | -93% |
|
|
TSS
3
Two Sigma Securities
New York
| $164K | +$230K | +1,066 | New |
|
|
TRCT
4
Tower Research Capital (TRC)
New York
| $34.6K | +$45.4K | +210 | +1,400% |
|
|
5
Group One Trading
Chicago,
Illinois
| $13.2K | +$3.46K | +16 | +23% |
|
6
UBS Group
Zurich,
Switzerland
| $2.08K | -$864 | -4 | -22% |
|
|
SIS
7
Strategic Investment Solutions
Orland Park,
Illinois
| $1.54K | +$2.16K | +10 | New |
|
8
Morgan Stanley
New York
| $769 | -$36.1K | -167 | -97% |
|
|
FTUS
9
Flow Traders U.S.
New York
| – | -$1.31M | -5,067 | Closed |
|
|
10
Citadel Advisors
Miami,
Florida
| – | -$1.08M | -4,985 | Closed |
|
|
11
IMC Chicago
Chicago,
Illinois
| – | -$538K | -2,084 | Closed |
|
12
Bank of America
Charlotte,
North Carolina
| – | -$111K | -431 | Closed |
|
ZSL Hedge Fund Activity: Q3 2025 in Review
8 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in ProShares UltraShort Silver (ZSL) for Q3 2025, worth a combined $886K — down 92% from $10.6M a quarter earlier.
Sellers outnumbered buyers: 4 funds closed out of ZSL and 2 opened new positions — a net loss of 2 holders — while 4 trimmed existing stakes and 2 added.
The largest buyer was Two Sigma Securities, opening a new position worth an estimated $230K. The largest seller was Susquehanna International Group, cutting an estimated $4.32M.
- 8 institutional investors held ProShares UltraShort Silver (ZSL) as of Q3 2025, down from 10 in Q2 2025.
- Funds reported $886K of ProShares UltraShort Silver stock for Q3 2025, down 92% quarter-over-quarter.
- 2 funds opened new ProShares UltraShort Silver positions in Q3 2025 and 4 closed out, a net change of -2 holders.
- The largest ProShares UltraShort Silver buyer in Q3 2025 was Two Sigma Securities, an estimated $230K added.
- The largest ProShares UltraShort Silver seller in Q3 2025 was Susquehanna International Group, an estimated $4.32M sold.
Based on aggregated 13F filings for Q3 2025.