ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares Gap Down – What’s Next?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $18.60, but opened at $16.67. ProShares Ultra Bloomberg Natural Gas shares last traded at $16.5950, with a volume of 4,084,772 shares trading hands.

ProShares Ultra Bloomberg Natural Gas Stock Performance

The company has a fifty day moving average price of $29.23 and a two-hundred day moving average price of $31.62.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

Several large investors have recently modified their holdings of BOIL. Flow Traders U.S. LLC grew its stake in shares of ProShares Ultra Bloomberg Natural Gas by 386.9% in the second quarter. Flow Traders U.S. LLC now owns 92,249 shares of the exchange traded fund’s stock worth $4,251,000 after purchasing an additional 73,304 shares during the last quarter. Group One Trading LLC grew its position in shares of ProShares Ultra Bloomberg Natural Gas by 69.4% in the 3rd quarter. Group One Trading LLC now owns 62,847 shares of the exchange traded fund’s stock valued at $1,885,000 after buying an additional 25,756 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the third quarter valued at about $1,336,000. Centric Wealth Management raised its position in shares of ProShares Ultra Bloomberg Natural Gas by 100.0% during the third quarter. Centric Wealth Management now owns 40,000 shares of the exchange traded fund’s stock worth $1,204,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Tejara Capital Ltd acquired a new position in shares of ProShares Ultra Bloomberg Natural Gas in the second quarter worth approximately $1,751,000.

About ProShares Ultra Bloomberg Natural Gas

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.