ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Shares Gap Down – Here’s Why

Shares of ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) gapped down before the market opened on Thursday . The stock had previously closed at $20.62, but opened at $19.47. ProShares UltraShort Bloomberg Natural Gas shares last traded at $19.4920, with a volume of 4,661,206 shares traded.

ProShares UltraShort Bloomberg Natural Gas Price Performance

The firm’s 50-day moving average is $30.32 and its 200 day moving average is $32.37.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. StoneX Group Inc. bought a new stake in ProShares UltraShort Bloomberg Natural Gas in the 2nd quarter valued at approximately $802,000. Flow Traders U.S. LLC raised its holdings 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 during the last quarter. Belvedere Trading LLC bought a new stake in shares of ProShares UltraShort Bloomberg Natural Gas in the second quarter worth $279,000. Jump Financial LLC bought a new stake in shares of ProShares UltraShort Bloomberg Natural Gas in the second quarter worth $1,964,000. Finally, Two Sigma Securities LLC acquired a new position in ProShares UltraShort Bloomberg Natural Gas during the second quarter worth $756,000.

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.