ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Trading Up 5.4% – Still a Buy?

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) shares traded up 5.4% on Tuesday . The stock traded as high as $22.43 and last traded at $22.68. 3,903,845 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 3,178,680 shares. The stock had previously closed at $21.51.

ProShares UltraShort Bloomberg Natural Gas Price Performance

The stock’s 50 day simple moving average is $26.05 and its two-hundred day simple moving average is $49.41.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Natural Gas

A number of hedge funds and other institutional investors have recently bought and sold shares of KOLD. JPMorgan Chase & Co. lifted its stake in shares of 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 purchasing an additional 1,727 shares during the period. Flow Traders U.S. LLC lifted its stake in ProShares UltraShort Bloomberg Natural Gas by 13.3% in the third quarter. Flow Traders U.S. LLC now owns 15,630 shares of the company’s stock valued at $863,000 after buying an additional 1,837 shares during the period. Two Sigma Securities LLC bought a new position in ProShares UltraShort Bloomberg Natural Gas during the fourth quarter worth about $620,000. Tower Research Capital LLC TRC bought a new position in ProShares UltraShort Bloomberg Natural Gas during the fourth quarter worth about $962,000. Finally, Aveo Capital Partners LLC acquired a new position in shares of ProShares UltraShort Bloomberg Natural Gas during the 4th quarter worth about $2,556,000.

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.