ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Shares Gap Up – Time to Buy?

Shares of ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) gapped up prior to trading on Wednesday . The stock had previously closed at $17.71, but opened at $19.05. ProShares UltraShort Bloomberg Natural Gas shares last traded at $19.11, with a volume of 1,846,016 shares trading hands.

ProShares UltraShort Bloomberg Natural Gas Trading Up 12.4 %

The business has a 50-day moving average price of $30.15 and a two-hundred day moving average price of $53.45.

Institutional Trading of ProShares UltraShort Bloomberg Natural Gas

Several hedge funds have recently added to or reduced their stakes in the business. IMC Chicago LLC grew its holdings in ProShares UltraShort Bloomberg Natural Gas by 76.5% during the fourth quarter. IMC Chicago LLC now owns 183,848 shares of the company’s stock worth $7,858,000 after acquiring an additional 79,685 shares during the period. Jump Financial LLC lifted its stake in ProShares UltraShort Bloomberg Natural Gas by 248.1% during the fourth quarter. Jump Financial LLC now owns 106,912 shares of the company’s stock valued at $4,569,000 after buying an additional 76,201 shares in the last quarter. Bank of America Corp DE boosted its stake in ProShares UltraShort Bloomberg Natural Gas by 2,566.7% in the 4th 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. AI Squared Management Ltd acquired a new position in ProShares UltraShort Bloomberg Natural Gas during the fourth quarter valued at $2,667,000. Finally, Aveo Capital Partners LLC purchased a new stake in ProShares UltraShort Bloomberg Natural Gas in the 4th quarter worth about $2,556,000.

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.