Investors Buy Large Volume of Call Options on ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) was the target of unusually large options trading on Wednesday. Traders acquired 25,869 call options on the stock. This is an increase of approximately 43% compared to the typical daily volume of 18,070 call options.

ProShares Ultra Bloomberg Natural Gas Trading Down 12.7%

Shares of ProShares Ultra Bloomberg Natural Gas stock traded down $2.37 during trading hours on Wednesday, hitting $16.23. 16,754,981 shares of the company’s stock traded hands, compared to its average volume of 13,780,225. ProShares Ultra Bloomberg Natural Gas has a 12-month low of $15.69 and a 12-month high of $109.77. The company has a fifty day simple moving average of $29.23 and a 200-day simple moving average of $31.62.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. StoneX Group Inc. bought a new position in shares of ProShares Ultra Bloomberg Natural Gas in the second quarter worth $936,000. Flow Traders U.S. LLC grew its position in ProShares Ultra Bloomberg Natural Gas by 386.9% during 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 buying an additional 73,304 shares in the last quarter. Tejara Capital Ltd bought a new position in ProShares Ultra Bloomberg Natural Gas in the 2nd quarter worth about $1,751,000. Centric Wealth Management purchased a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the 2nd quarter valued at about $922,000. Finally, Simplex Trading LLC boosted its position in shares of ProShares Ultra Bloomberg Natural Gas by 8,623.8% during the 2nd quarter. Simplex Trading LLC now owns 23,467 shares of the exchange traded fund’s stock valued at $1,081,000 after acquiring an additional 23,198 shares during the last quarter.

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.