ProShares UltraShort Silver
ZSL
21 hedge funds and large institutions have $25.1M invested in ProShares UltraShort Silver in 2025 Q4 according to their latest regulatory filings, with 16 funds opening new positions, 4 increasing their positions, 1 reducing their positions, and 3 closing their positions.
2,730% more capital invested
Capital invested by funds: $886K → $25.1M (+$24.2M)
433% more first-time investments, than exits
New positions opened: 16 | Existing positions closed: 3
300% more repeat investments, than reductions
Existing positions increased: 4 | Existing positions reduced: 1
163% more funds holding
Funds holding: 8 → 21 (+13)
90% more call options, than puts
Call options by funds: $3.77M | Put options by funds: $1.98M
2.82% more ownership
Funds ownership: 0.04% → 2.86% (+2.8%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
+$26.8M |
| 2 |
Citadel Advisors
Miami,
Florida
|
+$5.36M |
| 3 |
LJAC
L.J. Altfest & Co
New York
|
+$5.31M |
| 4 |
FTUS
Flow Traders U.S.
New York
|
+$3.76M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$2.06M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TRCT
Tower Research Capital (TRC)
New York
|
-$20.9K |
| 2 |
Group One Trading
Chicago,
Illinois
|
-$13.2K |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$1.54K |
| 4 |
SIS
Strategic Investment Solutions
Orland Park,
Illinois
|
-$1.54K |
ZSL Hedge Fund Activity: Q4 2025 in Review
21 of the 8,275 institutional investors tracked by Wall St. Rank reported a position in ProShares UltraShort Silver (ZSL) for Q4 2025, worth a combined $25.1M — up 2,730% from $886K a quarter earlier.
Buyers outnumbered sellers: 16 funds opened new ZSL positions and 3 closed out — a net gain of 13 holders — while 4 added to existing stakes and 1 trimmed.
The largest buyer was Jane Street, adding an estimated $26.8M. The largest seller was Tower Research Capital (TRC), cutting an estimated $20.9K.
- 21 institutional investors held ProShares UltraShort Silver (ZSL) as of Q4 2025, up from 8 in Q3 2025.
- Funds reported $25.1M of ProShares UltraShort Silver stock for Q4 2025, up 2,730% quarter-over-quarter.
- 16 funds opened new ProShares UltraShort Silver positions in Q4 2025 and 3 closed out, a net change of +13 holders.
- The largest ProShares UltraShort Silver buyer in Q4 2025 was Jane Street, an estimated $26.8M added.
- The largest ProShares UltraShort Silver seller in Q4 2025 was Tower Research Capital (TRC), an estimated $20.9K sold.
Based on aggregated 13F filings for Q4 2025.