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

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) shares gapped up before the market opened on Friday . The stock had previously closed at $18.00, but opened at $18.78. ProShares UltraShort Bloomberg Natural Gas shares last traded at $18.90, with a volume of 2,537,328 shares changing hands.

ProShares UltraShort Bloomberg Natural Gas Price Performance

The company’s 50-day moving average is $26.10 and its 200 day moving average is $30.53.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Centric Wealth Management purchased a new stake in shares of ProShares UltraShort Bloomberg Natural Gas during the fourth quarter valued at $4,232,000. Flow Traders U.S. LLC raised its stake in ProShares UltraShort Bloomberg Natural Gas by 658.3% in the 2nd quarter. Flow Traders U.S. LLC now owns 99,692 shares of the company’s stock worth $2,553,000 after acquiring an additional 86,546 shares during the last quarter. Jump Financial LLC purchased a new position in ProShares UltraShort Bloomberg Natural Gas in the 2nd quarter worth $1,964,000. IMC Chicago LLC acquired a new stake in ProShares UltraShort Bloomberg Natural Gas during the 4th quarter worth about $1,960,000. Finally, StoneX Group Inc. acquired a new stake in ProShares UltraShort Bloomberg Natural Gas during the 2nd quarter worth about $802,000.

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.