something wrong with AGQ and ZSL

Quote from m22au:

I *think* I have an answer.

The NAV is set at 7am each day.

At 4pm on Wednesday, silver was at $35.21. ZSL at $21.74

At 7am on Thursday, silver was at $32.66. ZSL range from 24.00 to 24.90.

Therefore silver lost 7.24% during that time, and therefore one would expect ZSL (at 7am Thursday) to be 15.48% higher than the price at 4pm on Wednesday.

21.74 * 1.1548 = 25.10

At 4pm on Thursday, silver was at 34.12. (up 4.47% from 7am)
ZSL was at 21.80.

If we use $24.21 as the price for ZSL at 7am on Thursday, then the 4pm price of 21.80 represents a 9.94% decline (2 * 4.47%).
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NAV (at 7am) on Thursday 12 May $24.29
http://www.proshares.com/funds/zsl.html
 
Quote from sprstpd:

Is there a way to calculate NAV before ProShares releases that info on their website? For example, the ProShares website is still a day behind as I type.
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I think the NAV might be available on Bloomberg in real time.

Otherwise I think you need to wait for ProShares to update the web site.

Having said that, I would expect that any big deviation from NAV would be arbed away fairly quickly.
 
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