ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Trading Down 0.5% – Time to Sell?

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD)’s stock price fell 0.5% on Thursday . The stock traded as low as $25.89 and last traded at $26.48. Approximately 2,079,942 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 6,641,468 shares. The stock had previously closed at $26.60.

ProShares UltraShort Bloomberg Natural Gas Stock Performance

The firm’s 50 day simple moving average is $24.07 and its 200 day simple moving average is $24.65.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Natural Gas

A number of institutional investors have recently modified their holdings of KOLD. IMC Chicago LLC purchased a new position in ProShares UltraShort Bloomberg Natural Gas during the fourth quarter valued at approximately $1,960,000. Centric Wealth Management purchased a new position in shares of ProShares UltraShort Bloomberg Natural Gas during the 4th quarter valued at approximately $4,232,000. Jump Financial LLC lifted its stake in shares of ProShares UltraShort Bloomberg Natural Gas by 278.0% in the 4th quarter. Jump Financial LLC now owns 27,215 shares of the company’s stock valued at $960,000 after purchasing an additional 20,015 shares during the period. Centaurus Financial Inc. acquired a new stake in ProShares UltraShort Bloomberg Natural Gas during the first quarter valued at $151,000. Finally, Belvedere Trading LLC purchased a new position in ProShares UltraShort Bloomberg Natural Gas in the fourth quarter valued at $293,000.

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.