ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Trading Down 7.1% – Should You Sell?

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) shares dropped 7.1% during mid-day trading on Friday . The stock traded as low as $21.03 and last traded at $20.7960. Approximately 3,794,846 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 13,831,195 shares. The stock had previously closed at $22.39.

ProShares UltraShort Bloomberg Natural Gas Trading Down 2.9%

The stock’s fifty day moving average is $29.89 and its 200-day moving average is $31.96.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Natural Gas

Several hedge funds and other institutional investors have recently made changes to their positions in KOLD. Headlands Technologies LLC acquired a new position in ProShares UltraShort Bloomberg Natural Gas in the 2nd quarter valued at $61,000. 1248 Management LLC grew its holdings in shares of ProShares UltraShort Bloomberg Natural Gas by 25.0% during the second quarter. 1248 Management LLC now owns 3,000 shares of the company’s stock worth $77,000 after buying an additional 600 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of ProShares UltraShort Bloomberg Natural Gas in the second quarter valued at about $249,000. Belvedere Trading LLC acquired a new stake in shares of ProShares UltraShort Bloomberg Natural Gas in the second quarter valued at about $279,000. Finally, Two Sigma Securities LLC purchased a new position in shares of ProShares UltraShort Bloomberg Natural Gas in the second quarter worth about $756,000.

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.