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

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) shares gapped down before the market opened on Tuesday . The stock had previously closed at $20.39, but opened at $19.79. ProShares UltraShort Bloomberg Natural Gas shares last traded at $20.00, with a volume of 1,276,349 shares changing hands.

ProShares UltraShort Bloomberg Natural Gas Price Performance

The stock has a 50-day moving average of $24.45 and a 200-day moving average of $29.97.

Institutional Trading of ProShares UltraShort Bloomberg Natural Gas

Several institutional investors and hedge funds have recently modified their holdings of KOLD. 1248 Management LLC boosted its position in shares of ProShares UltraShort Bloomberg Natural Gas by 25.0% during the 2nd quarter. 1248 Management LLC now owns 3,000 shares of the company’s stock valued at $77,000 after acquiring an additional 600 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of ProShares UltraShort Bloomberg Natural Gas in the second quarter worth approximately $61,000. Belvedere Trading LLC bought a new position in shares of ProShares UltraShort Bloomberg Natural Gas in the fourth quarter worth approximately $293,000. XTX Topco Ltd purchased a new stake in ProShares UltraShort Bloomberg Natural Gas in the second quarter valued at approximately $249,000. Finally, Jump Financial LLC raised 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 valued at $960,000 after purchasing an additional 20,015 shares in 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.