ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Trading 5.6% Higher – Should You Buy?

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD)’s stock price traded up 5.6% on Thursday . The company traded as high as $18.04 and last traded at $18.7310. 4,611,185 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 15,549,781 shares. The stock had previously closed at $17.73.

ProShares UltraShort Bloomberg Natural Gas Stock Performance

The stock’s 50-day simple moving average is $30.89 and its 200 day simple moving average is $32.69.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Natural Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 1248 Management LLC lifted its holdings in shares of ProShares UltraShort Bloomberg Natural Gas by 25.0% in the second quarter. 1248 Management LLC now owns 3,000 shares of the company’s stock valued at $77,000 after purchasing an additional 600 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of ProShares UltraShort Bloomberg Natural Gas during the 2nd quarter worth approximately $61,000. XTX Topco Ltd acquired a new position in shares of ProShares UltraShort Bloomberg Natural Gas during the 2nd quarter worth approximately $249,000. Belvedere Trading LLC purchased a new stake in ProShares UltraShort Bloomberg Natural Gas in the 2nd quarter valued at approximately $279,000. Finally, Two Sigma Securities LLC acquired a new stake in ProShares UltraShort Bloomberg Natural Gas during the 2nd quarter valued at $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.