ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Sees Large Volume Increase – Here’s Why

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) shares saw an uptick in trading volume on Friday . 3,649,745 shares changed hands during mid-day trading, an increase of 9% from the previous session’s volume of 3,360,316 shares.The stock last traded at $21.61 and had previously closed at $19.49.

ProShares UltraShort Bloomberg Natural Gas Stock Up 14.2 %

The firm’s 50-day moving average price is $24.49 and its two-hundred day moving average price is $46.90.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Natural Gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of 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 buying an additional 1,727 shares during the period. Two Sigma Securities LLC purchased a new stake in ProShares UltraShort Bloomberg Natural Gas in the 4th quarter worth about $620,000. Tower Research Capital LLC TRC acquired a new stake in ProShares UltraShort Bloomberg Natural Gas during the 4th quarter worth about $962,000. Aveo Capital Partners LLC purchased a new position in ProShares UltraShort Bloomberg Natural Gas during the 4th quarter valued at about $2,556,000. Finally, Bank of America Corp DE grew its stake in ProShares UltraShort Bloomberg Natural Gas by 2,566.7% during the 4th 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 in the last quarter.

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.