ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Stock Cross Below 50-Day Moving Average – Should You Sell?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $27.17 and traded as low as $21.71. ProShares Ultra Bloomberg Natural Gas shares last traded at $22.68, with a volume of 7,581,368 shares trading hands.

ProShares Ultra Bloomberg Natural Gas Trading Down 4.2%

The stock has a 50-day moving average price of $27.17 and a 200 day moving average price of $34.11.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Natural Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC acquired a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the fourth quarter valued at approximately $1,981,000. IMC Chicago LLC acquired a new position in shares of ProShares Ultra Bloomberg Natural Gas in the 4th quarter valued at $997,000. SLT Holdings LLC acquired a new position in shares of ProShares Ultra Bloomberg Natural Gas in the 4th quarter valued at $1,978,000. Jefferies Financial Group Inc. purchased a new stake in ProShares Ultra Bloomberg Natural Gas in the 3rd quarter valued at $467,000. Finally, HUB Investment Partners LLC purchased a new stake in ProShares Ultra Bloomberg Natural Gas in the 2nd quarter valued at $324,000.

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.