ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Shares Gap Up – Should You Buy?

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD)’s share price 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 trading hands.

ProShares UltraShort Bloomberg Natural Gas Price Performance

The stock’s 50 day moving average is $25.74 and its two-hundred day moving average is $30.32.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Natural Gas

Several large investors have recently modified their holdings of the stock. Centric Wealth Management acquired a new position in shares of ProShares UltraShort Bloomberg Natural Gas in the 4th quarter worth approximately $4,232,000. Flow Traders U.S. LLC boosted 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 valued at $2,553,000 after buying an additional 86,546 shares in the last quarter. Jump Financial LLC acquired a new stake in ProShares UltraShort Bloomberg Natural Gas in the 2nd quarter valued at $1,964,000. IMC Chicago LLC bought a new stake in ProShares UltraShort Bloomberg Natural Gas in the fourth quarter valued at $1,960,000. Finally, StoneX Group Inc. bought a new stake in ProShares UltraShort Bloomberg Natural Gas in the second quarter valued at $802,000.

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.