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

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) gapped down before the market opened on Monday . The stock had previously closed at $23.45, but opened at $21.76. ProShares UltraShort Bloomberg Natural Gas shares last traded at $21.9040, with a volume of 3,958,802 shares.

ProShares UltraShort Bloomberg Natural Gas Price Performance

The firm has a 50-day moving average of $28.62 and a 200 day moving average of $31.51.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Natural Gas

A number of hedge funds have recently modified their holdings of KOLD. XTX Topco Ltd purchased a new stake in shares of ProShares UltraShort Bloomberg Natural Gas during the second quarter valued at $249,000. Flow Traders U.S. LLC raised its holdings in ProShares UltraShort Bloomberg Natural Gas by 658.3% during the 2nd quarter. Flow Traders U.S. LLC now owns 99,692 shares of the company’s stock worth $2,553,000 after buying an additional 86,546 shares during the period. StoneX Group Inc. purchased a new stake in ProShares UltraShort Bloomberg Natural Gas during the second quarter valued at about $802,000. Jump Financial LLC acquired a new position in shares of ProShares UltraShort Bloomberg Natural Gas in the second quarter worth about $1,964,000. Finally, Two Sigma Securities LLC purchased a new position in shares of ProShares UltraShort Bloomberg Natural Gas in the second quarter worth approximately $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.