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

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) shares gapped up before the market opened on Friday . The stock had previously closed at $18.00, but opened at $18.78. ProShares UltraShort Bloomberg Natural Gas shares last traded at $18.90, with a volume of 2,537,328 shares.

ProShares UltraShort Bloomberg Natural Gas Price Performance

The firm’s 50-day moving average is $26.10 and its two-hundred day moving average is $30.53.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Natural Gas

Several large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in ProShares UltraShort Bloomberg Natural Gas in the second quarter worth approximately $61,000. 1248 Management LLC lifted its stake in ProShares UltraShort Bloomberg Natural Gas by 25.0% in the second quarter. 1248 Management LLC now owns 3,000 shares of the company’s stock worth $77,000 after acquiring an additional 600 shares during the period. Belvedere Trading LLC bought a new stake in shares of ProShares UltraShort Bloomberg Natural Gas in the 4th quarter valued at about $293,000. XTX Topco Ltd purchased a new stake in shares of ProShares UltraShort Bloomberg Natural Gas in the 2nd quarter worth approximately $249,000. Finally, Jump Financial LLC boosted its stake in shares of ProShares UltraShort Bloomberg Natural Gas by 278.0% during 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.

ProShares UltraShort Bloomberg Natural Gas Company Profile

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.