ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Shares Gap Down – What’s Next?

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) shares gapped down prior to trading on Tuesday . The stock had previously closed at $20.75, but opened at $19.97. ProShares UltraShort Bloomberg Natural Gas shares last traded at $19.97, with a volume of 1,456,099 shares traded.

ProShares UltraShort Bloomberg Natural Gas Price Performance

The company’s 50-day simple moving average is $28.28 and its 200-day simple moving average is $51.88.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Natural Gas

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in ProShares UltraShort Bloomberg Natural Gas by 2,566.7% during the 4th quarter. Bank of America Corp DE now owns 62,400 shares of the company’s stock worth $2,667,000 after acquiring an additional 60,060 shares during the period. Two Sigma Securities LLC bought a new stake in ProShares UltraShort Bloomberg Natural Gas in the fourth quarter worth approximately $620,000. Tower Research Capital LLC TRC acquired a new position in ProShares UltraShort Bloomberg Natural Gas in the fourth quarter valued at approximately $962,000. Jump Financial LLC grew 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 worth $4,569,000 after buying an additional 76,201 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of ProShares UltraShort Bloomberg Natural Gas by 162.6% in the 4th 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 in 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.