ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Stock Cross Below Fifty Day Moving Average – Here’s Why

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $31.38 and traded as low as $23.77. ProShares Ultra Bloomberg Natural Gas shares last traded at $23.87, with a volume of 5,554,282 shares traded.

ProShares Ultra Bloomberg Natural Gas Stock Performance

The stock has a fifty day simple moving average of $31.37 and a 200-day simple moving average of $34.99.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Natural Gas

A number of hedge funds and other institutional investors have recently bought and sold shares of BOIL. Flow Traders U.S. LLC boosted its position in ProShares Ultra Bloomberg Natural Gas by 386.9% during the 2nd quarter. Flow Traders U.S. LLC now owns 92,249 shares of the exchange traded fund’s stock worth $4,251,000 after acquiring an additional 73,304 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the third quarter worth $1,336,000. Tejara Capital Ltd acquired a new position in ProShares Ultra Bloomberg Natural Gas during the second quarter worth $1,751,000. Group One Trading LLC acquired a new position in ProShares Ultra Bloomberg Natural Gas during the second quarter worth $1,709,000. Finally, Simplex Trading LLC grew its position in ProShares Ultra Bloomberg Natural Gas by 8,623.8% in the second quarter. Simplex Trading LLC now owns 23,467 shares of the exchange traded fund’s stock valued at $1,081,000 after purchasing an additional 23,198 shares in the last quarter.

ProShares Ultra Bloomberg Natural Gas Company Profile

The ProShares Ultra Bloomberg Natural Gas (BOIL) is an exchange-traded fund that is based on the Bloomberg Natural Gas Subindex index. The fund provides 2x the daily return of an index that measures the price performance of natural gas as reflected through publicly traded natural gas futures contracts. BOIL was launched on Oct 4, 2011 and is managed by ProShares.