ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Stock Price Down 3.7% – Here’s Why

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) shares dropped 3.7% on Wednesday . The stock traded as low as $17.20 and last traded at $17.44. Approximately 12,728,538 shares were traded during trading, an increase of 67% from the average daily volume of 7,632,583 shares. The stock had previously closed at $18.10.

ProShares UltraShort Bloomberg Natural Gas Price Performance

The business’s fifty day moving average is $33.05 and its two-hundred day moving average is $55.24.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Natural Gas

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