Not much - it is jargonese. It is used to indicate very low levels indeed, but without any specific measure. Given that trace levels would generally be considered to be in the order of a few to a few tens of parts per million, perhaps something like a hundreth that level or less would be ultra trace???? It really depends on context - trace in one context is relative abundance in another.
Iodine
Ultra
crobat. caught me a latias with an ultra ball. latias is now level 100
What does a trace of keystones mean in a urine test mean?
ultra heat treated
Do you mean ultra rank? Just keep doing missions
cog
you get him at level 50 bring lots of ultra balls
Depending on what you mean by "trace", the answer could be yes or no.
It's Stingray.
Sailboat
you catch dialga on level 70 on spear pillar and make sure you have a ultra ball lower its hp to half and throw ultra ball its really easy