ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Shares Down 0.5% – Here’s What Happened

Shares of ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) dropped 0.5% during trading on Thursday . The company traded as low as $25.89 and last traded at $26.48. Approximately 2,079,942 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 6,641,468 shares. The stock had previously closed at $26.60.

ProShares UltraShort Bloomberg Natural Gas Trading Down 0.5%

The company’s 50-day moving average price is $24.02 and its two-hundred day moving average price is $24.63.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Natural Gas

Several hedge funds have recently added to or reduced their stakes in KOLD. Centric Wealth Management bought a new stake in shares of ProShares UltraShort Bloomberg Natural Gas in the 4th quarter worth approximately $4,232,000. Jump Financial LLC purchased a new position in ProShares UltraShort Bloomberg Natural Gas in the 2nd quarter worth $1,964,000. IMC Chicago LLC bought a new stake in ProShares UltraShort Bloomberg Natural Gas in the fourth quarter worth $1,960,000. Two Sigma Securities LLC bought a new stake in ProShares UltraShort Bloomberg Natural Gas in the second quarter worth $756,000. Finally, Belvedere Trading LLC purchased a new stake in ProShares UltraShort Bloomberg Natural Gas during the fourth quarter valued at about $293,000.

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.