ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Shares Gap Down – Here’s Why

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) gapped down prior to trading on Tuesday . The stock had previously closed at $24.45, but opened at $22.99. ProShares UltraShort Bloomberg Natural Gas shares last traded at $23.32, with a volume of 1,558,089 shares trading hands.

ProShares UltraShort Bloomberg Natural Gas Price Performance

The business has a 50 day moving average of $24.25 and a 200 day moving average of $46.39.

Institutional Trading of ProShares UltraShort Bloomberg Natural Gas

Several hedge funds have recently modified their holdings of KOLD. JPMorgan Chase & Co. increased its position in ProShares UltraShort Bloomberg Natural Gas by 767.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,952 shares of the company’s stock valued at $108,000 after acquiring an additional 1,727 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of ProShares UltraShort Bloomberg Natural Gas in the fourth quarter valued at approximately $620,000. Tower Research Capital LLC TRC bought a new position in ProShares UltraShort Bloomberg Natural Gas in the 4th quarter worth approximately $962,000. Howard Financial Services LTD. acquired a new position in ProShares UltraShort Bloomberg Natural Gas during the 1st quarter worth $548,000. Finally, Aveo Capital Partners LLC bought a new position in ProShares UltraShort Bloomberg Natural Gas in the 4th quarter valued at $2,556,000.

About ProShares UltraShort Bloomberg Natural Gas

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.