ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Reaches New 52-Week Low – Here’s Why

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) shares reached a new 52-week low on Tuesday . The stock traded as low as $17.38 and last traded at $17.27, with a volume of 3918221 shares changing hands. The stock had previously closed at $20.26.

ProShares UltraShort Bloomberg Natural Gas Stock Down 13.7 %

The firm’s 50 day simple moving average is $33.65 and its two-hundred day simple moving average is $55.61.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Natural Gas

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in ProShares UltraShort Bloomberg Natural Gas by 2,566.7% during the fourth quarter. Bank of America Corp DE now owns 62,400 shares of the company’s stock worth $2,667,000 after purchasing an additional 60,060 shares during the last quarter. Two Sigma Securities LLC purchased a new position in ProShares UltraShort Bloomberg Natural Gas during the fourth quarter worth about $620,000. Tower Research Capital LLC TRC purchased a new position in ProShares UltraShort Bloomberg Natural Gas during the fourth quarter worth about $962,000. Jump Financial LLC boosted its stake in ProShares UltraShort Bloomberg Natural Gas by 248.1% in the fourth quarter. Jump Financial LLC now owns 106,912 shares of the company’s stock valued at $4,569,000 after acquiring an additional 76,201 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in ProShares UltraShort Bloomberg Natural Gas by 162.6% in the fourth quarter. JPMorgan Chase & Co. now owns 5,125 shares of the company’s stock valued at $219,000 after acquiring an additional 3,173 shares during the last quarter.

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.