ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Reaches New 52-Week Low – Time to Sell?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $15.69 and last traded at $16.47, with a volume of 21245528 shares changing hands. The stock had previously closed at $18.60.

ProShares Ultra Bloomberg Natural Gas Price Performance

The stock has a 50-day simple moving average of $28.26 and a two-hundred day simple moving average of $31.21.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Natural Gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in BOIL. Flow Traders U.S. LLC lifted its holdings in shares of 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 valued at $4,251,000 after buying an additional 73,304 shares during the period. Group One Trading LLC lifted its holdings in ProShares Ultra Bloomberg Natural Gas by 69.4% in the third quarter. Group One Trading LLC now owns 62,847 shares of the exchange traded fund’s stock valued at $1,885,000 after acquiring an additional 25,756 shares during the period. HighTower Advisors LLC bought a new position in ProShares Ultra Bloomberg Natural Gas in the third quarter valued at about $1,336,000. Centric Wealth Management boosted its position in ProShares Ultra Bloomberg Natural Gas by 100.0% in the third quarter. Centric Wealth Management now owns 40,000 shares of the exchange traded fund’s stock worth $1,204,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Tejara Capital Ltd bought a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the 2nd quarter valued at about $1,751,000.

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.