ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Shares Down 9.2% – What’s Next?

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD)’s share price fell 9.2% during mid-day trading on Wednesday . The company traded as low as $18.61 and last traded at $18.63. 7,708,442 shares changed hands during trading, a decline of 34% from the average session volume of 11,631,683 shares. The stock had previously closed at $20.51.

ProShares UltraShort Bloomberg Natural Gas Stock Up 2.4%

The company’s 50 day moving average price is $23.97 and its two-hundred day moving average price is $29.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC increased its stake in ProShares UltraShort Bloomberg Natural Gas by 278.0% in the fourth quarter. Jump Financial LLC now owns 27,215 shares of the company’s stock worth $960,000 after purchasing an additional 20,015 shares during the period. Belvedere Trading LLC acquired a new stake in shares of ProShares UltraShort Bloomberg Natural Gas in the 4th quarter worth $293,000. Centric Wealth Management acquired a new stake in ProShares UltraShort Bloomberg Natural Gas in the 4th quarter worth approximately $4,232,000. IMC Chicago LLC purchased a new stake in shares of ProShares UltraShort Bloomberg Natural Gas during the fourth quarter valued at $1,960,000. Finally, 1248 Management LLC raised its stake in shares of ProShares UltraShort Bloomberg Natural Gas by 25.0% in the second quarter. 1248 Management LLC now owns 3,000 shares of the company’s stock worth $77,000 after purchasing an additional 600 shares during the last quarter.

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.