ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Sees Unusually-High Trading Volume – Still a Buy?

Shares of ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) saw unusually-strong trading volume on Wednesday . Approximately 7,007,818 shares traded hands during trading, an increase of 128% from the previous session’s volume of 3,079,172 shares.The stock last traded at $18.86 and had previously closed at $20.45.

ProShares UltraShort Bloomberg Natural Gas Stock Performance

The company’s 50-day moving average price is $26.97 and its two-hundred day moving average price is $51.04.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Natural Gas

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in ProShares UltraShort Bloomberg Natural Gas by 767.6% during the third quarter. JPMorgan Chase & Co. now owns 1,952 shares of the company’s stock valued at $108,000 after buying an additional 1,727 shares in the last quarter. Flow Traders U.S. LLC lifted its stake in ProShares UltraShort Bloomberg Natural Gas by 13.3% during the third quarter. Flow Traders U.S. LLC now owns 15,630 shares of the company’s stock valued at $863,000 after buying an additional 1,837 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in ProShares UltraShort Bloomberg Natural Gas during the fourth quarter valued at about $620,000. Tower Research Capital LLC TRC purchased a new stake in ProShares UltraShort Bloomberg Natural Gas during the fourth quarter valued at about $962,000. Finally, Aveo Capital Partners LLC purchased a new stake in ProShares UltraShort Bloomberg Natural Gas during the fourth quarter valued at about $2,556,000.

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.