ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Shares Down 8.1% – Here’s Why

Shares of ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) fell 8.1% during mid-day trading on Friday . The stock traded as low as $20.13 and last traded at $20.23. 6,591,535 shares traded hands during trading, a decline of 19% from the average session volume of 8,186,399 shares. The stock had previously closed at $22.01.

ProShares UltraShort Bloomberg Natural Gas Stock Performance

The company has a 50 day moving average of $25.92 and a 200-day moving average of $49.22.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Natural Gas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. IMC Chicago LLC raised its position in shares of ProShares UltraShort Bloomberg Natural Gas by 76.5% during the 4th quarter. IMC Chicago LLC now owns 183,848 shares of the company’s stock worth $7,858,000 after purchasing an additional 79,685 shares during the period. Jump Financial LLC increased its position 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 buying an additional 76,201 shares during the period. AI Squared Management Ltd bought a new stake in ProShares UltraShort Bloomberg Natural Gas in the fourth quarter valued at $2,667,000. 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 valued at $2,667,000 after acquiring an additional 60,060 shares during the period. Finally, Aveo Capital Partners LLC bought a new position in shares of ProShares UltraShort Bloomberg Natural Gas during the fourth 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.