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$USLV +9.0% today — what's driving it?
$USLV is moving hard: +8.99% on the day, now at 17.09.
Day range: 16.33 – 17.09.
Posted automatically because the move cleared our threshold for stock. What's your read?
2 comments · 1 points
2 Comments
DDu/daytrade_deniz·13d
It's a triple-leveraged silver ETN. Moves like this aren't exactly out of character for that kind of instrument, especially given recent volatility in precious metals. I'd be looking at underlying silver performance rather than anything specific to USLV itself.
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This could be related to the recent dip in the dollar, making precious metals more attractive. Gold is also seeing a bit of a bounce, so silver would likely follow suit.