ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Stock Price Down 38.4% – Should You Sell?

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) were down 38.4% on Tuesday . The stock traded as low as $27.09 and last traded at $27.89. Approximately 15,848,551 shares changed hands during mid-day trading, an increase of 248% from the average daily volume of 4,550,369 shares. The stock had previously closed at $45.24.

ProShares UltraShort Bloomberg Natural Gas Stock Performance

The business has a 50-day moving average of $32.73 and a two-hundred day moving average of $33.23.

Institutional Trading of ProShares UltraShort Bloomberg Natural Gas

A number of institutional investors and hedge funds have recently modified their holdings of the company. Flow Traders U.S. LLC raised its stake in shares of ProShares UltraShort Bloomberg Natural Gas by 658.3% in the second quarter. Flow Traders U.S. LLC now owns 99,692 shares of the company’s stock valued at $2,553,000 after purchasing an additional 86,546 shares in the last quarter. Jump Financial LLC acquired a new stake in ProShares UltraShort Bloomberg Natural Gas during the second quarter worth $1,964,000. StoneX Group Inc. bought a new stake in ProShares UltraShort Bloomberg Natural Gas in the 2nd quarter valued at $802,000. Two Sigma Securities LLC acquired a new position in shares of ProShares UltraShort Bloomberg Natural Gas in the 2nd quarter valued at $756,000. Finally, Belvedere Trading LLC acquired a new position in shares of ProShares UltraShort Bloomberg Natural Gas in the 2nd quarter valued at $279,000.

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.