ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Shares Gap Up – Here’s Why

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) shares gapped up before the market opened on Thursday . The stock had previously closed at $17.37, but opened at $17.85. ProShares UltraShort Bloomberg Natural Gas shares last traded at $18.08, with a volume of 2,097,191 shares traded.

ProShares UltraShort Bloomberg Natural Gas Trading Down 3.5 %

The firm’s 50-day simple moving average is $31.12 and its 200 day simple moving average is $54.39.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Natural Gas

Several institutional investors have recently made changes to their positions in KOLD. Bank of America Corp DE increased its holdings in ProShares UltraShort Bloomberg Natural Gas by 2,566.7% in the 4th quarter. Bank of America Corp DE now owns 62,400 shares of the company’s stock valued at $2,667,000 after buying an additional 60,060 shares during the period. Two Sigma Securities LLC bought a new position in ProShares UltraShort Bloomberg Natural Gas in the fourth quarter valued at approximately $620,000. Tower Research Capital LLC TRC acquired a new position in ProShares UltraShort Bloomberg Natural Gas during the fourth quarter valued at approximately $962,000. Jump Financial LLC raised its position in ProShares UltraShort Bloomberg Natural Gas by 248.1% during the fourth quarter. Jump Financial LLC now owns 106,912 shares of the company’s stock valued at $4,569,000 after purchasing an additional 76,201 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in ProShares UltraShort Bloomberg Natural Gas by 162.6% during the fourth quarter. JPMorgan Chase & Co. now owns 5,125 shares of the company’s stock worth $219,000 after purchasing an additional 3,173 shares during 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.