ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Shares Gap Down – Time to Sell?

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $19.26, but opened at $17.29. ProShares UltraShort Bloomberg Natural Gas shares last traded at $18.3840, with a volume of 4,293,694 shares changing hands.

ProShares UltraShort Bloomberg Natural Gas Trading Down 8.0%

The stock’s 50-day simple moving average is $31.09 and its two-hundred day simple moving average is $32.80.

Institutional Trading of ProShares UltraShort Bloomberg Natural Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KOLD. Belvedere Trading LLC bought a new stake in shares of ProShares UltraShort Bloomberg Natural Gas in the second quarter valued at approximately $279,000. XTX Topco Ltd acquired a new position in ProShares UltraShort Bloomberg Natural Gas during the 2nd quarter valued at $249,000. Flow Traders U.S. LLC boosted its holdings in ProShares UltraShort Bloomberg Natural Gas by 658.3% in the 2nd quarter. Flow Traders U.S. LLC now owns 99,692 shares of the company’s stock valued at $2,553,000 after purchasing an additional 86,546 shares during the period. StoneX Group Inc. acquired a new stake in ProShares UltraShort Bloomberg Natural Gas in the 2nd quarter worth $802,000. Finally, Jump Financial LLC bought a new position in shares of ProShares UltraShort Bloomberg Natural Gas during the 2nd quarter worth about $1,964,000.

ProShares UltraShort Bloomberg Natural Gas Company Profile

The ProShares UltraShort Bloomberg Natural Gas (KOLD) is an exchange-traded fund that is based on the Bloomberg Natural Gas Subindex index. The fund provides daily -2x exposure to an index that tracks natural gas by holding one second month futures contract at a time. KOLD was launched on Oct 4, 2011 and is managed by ProShares.