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

ProShares UltraShort Bloomberg Natural Gas (NYSEARCA:KOLD) shares saw unusually-high trading volume on Wednesday . Approximately 7,007,818 shares changed hands during mid-day 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 Trading Up 3.1 %

The business’s 50-day simple moving average is $26.97 and its 200-day simple moving average is $51.04.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Natural Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Flow Traders U.S. LLC raised its position in shares of ProShares UltraShort Bloomberg Natural Gas by 13.3% in 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 during the last quarter. JPMorgan Chase & Co. raised 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 valued at $108,000 after buying an additional 1,727 shares during the last quarter. IMC Chicago LLC raised its position in shares of ProShares UltraShort Bloomberg Natural Gas by 76.5% in the fourth quarter. IMC Chicago LLC now owns 183,848 shares of the company’s stock valued at $7,858,000 after buying an additional 79,685 shares during the last quarter. Aveo Capital Partners LLC acquired a new position in shares of ProShares UltraShort Bloomberg Natural Gas in the fourth quarter valued at approximately $2,556,000. Finally, AI Squared Management Ltd acquired a new position in shares of ProShares UltraShort Bloomberg Natural Gas in the fourth quarter valued at approximately $2,667,000.

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.