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

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $17.89, but opened at $16.84. ProShares UltraShort Bloomberg Natural Gas shares last traded at $17.09, with a volume of 5,334,464 shares trading hands.

ProShares UltraShort Bloomberg Natural Gas Trading Down 7.8 %

The stock’s 50-day moving average is $31.12 and its two-hundred day moving average is $54.22.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Natural Gas

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in ProShares UltraShort Bloomberg Natural Gas by 2,566.7% in 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 last quarter. Two Sigma Securities LLC purchased a new position in ProShares UltraShort Bloomberg Natural Gas in the 4th quarter valued at $620,000. Tower Research Capital LLC TRC acquired a new stake in shares of ProShares UltraShort Bloomberg Natural Gas in the 4th quarter worth $962,000. Jump Financial LLC increased its stake in shares of 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 worth $4,569,000 after acquiring an additional 76,201 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of 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 acquiring an additional 3,173 shares during the period.

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.