ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Trading Down 3.7% – Time to Sell?

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD)’s share price dropped 3.7% on Wednesday . The stock traded as low as $17.20 and last traded at $17.44. Approximately 12,728,538 shares were traded during mid-day trading, an increase of 67% from the average daily volume of 7,632,583 shares. The stock had previously closed at $18.10.

ProShares UltraShort Bloomberg Natural Gas Stock Performance

The stock has a 50 day moving average price of $33.05 and a 200-day moving average price of $55.24.

Institutional Trading of ProShares UltraShort Bloomberg Natural Gas

Several hedge funds and other institutional investors have recently bought and sold shares of KOLD. Bank of America Corp DE boosted its holdings in shares of ProShares UltraShort Bloomberg Natural Gas by 2,566.7% during the fourth quarter. Bank of America Corp DE now owns 62,400 shares of the company’s stock worth $2,667,000 after purchasing an additional 60,060 shares during the period. Two Sigma Securities LLC bought a new position in shares of ProShares UltraShort Bloomberg Natural Gas during the fourth quarter valued at approximately $620,000. Tower Research Capital LLC TRC bought a new position in shares of ProShares UltraShort Bloomberg Natural Gas during the fourth quarter valued at approximately $962,000. Jump Financial LLC lifted its stake in ProShares UltraShort Bloomberg Natural Gas by 248.1% in the fourth quarter. Jump Financial LLC now owns 106,912 shares of the company’s stock worth $4,569,000 after acquiring an additional 76,201 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in ProShares UltraShort Bloomberg Natural Gas by 162.6% in the fourth quarter. JPMorgan Chase & Co. now owns 5,125 shares of the company’s stock valued at $219,000 after acquiring an additional 3,173 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.