ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) Shares Up 5.4% – Still a Buy?

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) shares traded up 5.4% during trading on Tuesday . The stock traded as high as $22.43 and last traded at $22.68. 3,903,845 shares traded hands during trading, an increase of 23% from the average session volume of 3,178,680 shares. The stock had previously closed at $21.51.

ProShares UltraShort Bloomberg Natural Gas Stock Performance

The company has a 50 day simple moving average of $26.45 and a 200 day simple moving average of $49.94.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Natural Gas

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in ProShares UltraShort Bloomberg Natural Gas by 2,566.7% during the fourth quarter. Bank of America Corp DE now owns 62,400 shares of the company’s stock worth $2,667,000 after acquiring an additional 60,060 shares during the period. Two Sigma Securities LLC acquired a new position in ProShares UltraShort Bloomberg Natural Gas during the fourth quarter worth about $620,000. Tower Research Capital LLC TRC purchased a new position in ProShares UltraShort Bloomberg Natural Gas in the fourth quarter valued at about $962,000. Jump Financial LLC lifted its position in shares of ProShares UltraShort Bloomberg Natural Gas by 248.1% during the 4th quarter. Jump Financial LLC now owns 106,912 shares of the company’s stock valued at $4,569,000 after acquiring an additional 76,201 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of ProShares UltraShort Bloomberg Natural Gas by 162.6% during the 4th quarter. JPMorgan Chase & Co. now owns 5,125 shares of the company’s stock valued at $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.