ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Stock Break Below Fifty Day Moving Average – Here’s What Happened

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $28.59 and traded as low as $27.90. ProShares UltraShort Bloomberg Natural Gas shares last traded at $28.18, with a volume of 1,983,012 shares traded.

ProShares UltraShort Bloomberg Natural Gas Stock Performance

The stock has a 50-day moving average of $28.57 and a 200-day moving average of $25.40.

Institutional Trading of ProShares UltraShort Bloomberg Natural Gas

Several hedge funds have recently added to or reduced their stakes in the business. Simplex Trading LLC bought a new stake in shares of ProShares UltraShort Bloomberg Natural Gas during the 3rd quarter worth about $153,000. StoneX Group Inc. purchased a new position in ProShares UltraShort Bloomberg Natural Gas in the 3rd quarter worth about $401,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of ProShares UltraShort Bloomberg Natural Gas during the first quarter valued at approximately $151,000.

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.