ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares Gap Down – Time to Sell?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $43.62, but opened at $38.87. ProShares Ultra Bloomberg Natural Gas shares last traded at $38.5160, with a volume of 2,208,439 shares changing hands.

ProShares Ultra Bloomberg Natural Gas Stock Performance

The firm has a 50 day moving average price of $32.10 and a two-hundred day moving average price of $37.14.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL acquired a new stake in ProShares Ultra Bloomberg Natural Gas during the 3rd quarter worth about $30,000. BNP Paribas Financial Markets increased its position in shares of ProShares Ultra Bloomberg Natural Gas by 52.9% in the third quarter. BNP Paribas Financial Markets now owns 2,026 shares of the exchange traded fund’s stock worth $61,000 after acquiring an additional 701 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the third quarter valued at approximately $74,000. Headlands Technologies LLC purchased a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the 1st quarter valued at approximately $85,000. Finally, Thrive Wealth Management LLC purchased a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the 3rd quarter valued at approximately $231,000.

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.