ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Stock Price Up 3.4% – Should You Buy?

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) rose 3.4% during trading on Thursday . The company traded as high as $21.04 and last traded at $20.76. Approximately 2,203,652 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 8,059,408 shares. The stock had previously closed at $20.09.

ProShares UltraShort Bloomberg Natural Gas Stock Down 2.7 %

The stock’s fifty day moving average price is $28.70 and its 200 day moving average price is $52.60.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in ProShares UltraShort Bloomberg Natural Gas by 767.6% in the third quarter. JPMorgan Chase & Co. now owns 1,952 shares of the company’s stock worth $108,000 after acquiring an additional 1,727 shares during the period. Two Sigma Securities LLC purchased a new stake in ProShares UltraShort Bloomberg Natural Gas in the fourth quarter worth about $620,000. Flow Traders U.S. LLC lifted its stake in ProShares UltraShort Bloomberg Natural Gas by 13.3% in the third quarter. Flow Traders U.S. LLC now owns 15,630 shares of the company’s stock worth $863,000 after acquiring an additional 1,837 shares during the period. Tower Research Capital LLC TRC purchased a new stake in ProShares UltraShort Bloomberg Natural Gas in the fourth quarter worth about $962,000. Finally, Aveo Capital Partners LLC purchased a new stake in ProShares UltraShort Bloomberg Natural Gas in 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.