ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares Gap Up – Still a Buy?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $16.42, but opened at $21.91. ProShares Ultra Bloomberg Natural Gas shares last traded at $21.2810, with a volume of 14,777,246 shares traded.

ProShares Ultra Bloomberg Natural Gas Stock Up 37.9%

The company has a fifty day moving average of $27.92 and a 200 day moving average of $30.79.

Institutional Trading of ProShares Ultra Bloomberg Natural Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BOIL. FNY Investment Advisers LLC boosted its position in shares of ProShares Ultra Bloomberg Natural Gas by 100.0% during the third quarter. FNY Investment Advisers LLC now owns 1,000 shares of the exchange traded fund’s stock valued at $29,000 after buying an additional 500 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the third quarter valued at about $30,000. BNP Paribas Financial Markets lifted its position in shares of ProShares Ultra Bloomberg Natural Gas by 52.9% during the third quarter. BNP Paribas Financial Markets now owns 2,026 shares of the exchange traded fund’s stock valued at $61,000 after purchasing an additional 701 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in ProShares Ultra Bloomberg Natural Gas during the third quarter worth about $74,000. Finally, Archford Capital Strategies LLC bought a new stake in ProShares Ultra Bloomberg Natural Gas in the 4th quarter worth about $202,000.

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.