ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Sees Large Drop in Short Interest

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 1,613,730 shares, a decline of 36.2% from the May 31st total of 2,529,657 shares. Based on an average daily volume of 3,732,801 shares, the days-to-cover ratio is currently 0.4 days. Currently, 30.0% of the shares of the stock are sold short.

ProShares UltraShort Bloomberg Natural Gas Price Performance

KOLD stock remained flat at $23.44 during midday trading on Friday. 2,901,795 shares of the company’s stock were exchanged, compared to its average volume of 7,120,294. The company’s 50-day moving average is $24.07 and its 200-day moving average is $25.50. ProShares UltraShort Bloomberg Natural Gas has a fifty-two week low of $13.44 and a fifty-two week high of $49.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional 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 valued at $61,000. Centaurus Financial Inc. bought a new stake in ProShares UltraShort Bloomberg Natural Gas during the first quarter worth about $151,000. Belvedere Trading LLC purchased a new position in shares of ProShares UltraShort Bloomberg Natural Gas in the 4th quarter worth about $293,000. Jump Financial LLC boosted its holdings in shares of ProShares UltraShort Bloomberg Natural Gas by 278.0% in the 4th quarter. Jump Financial LLC now owns 27,215 shares of the company’s stock worth $960,000 after purchasing an additional 20,015 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new position in shares of ProShares UltraShort Bloomberg Natural Gas in the 2nd quarter worth about $756,000.

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.