ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Stock Pass Below Fifty Day Moving Average – Here’s Why

Shares of ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $16.45 and traded as low as $12.66. ProShares Ultra Bloomberg Natural Gas shares last traded at $12.89, with a volume of 14,573,846 shares trading hands.

ProShares Ultra Bloomberg Natural Gas Price Performance

The business has a 50-day simple moving average of $16.45 and a two-hundred day simple moving average of $23.86.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Natural Gas

Several large investors have recently made changes to their positions in the company. HighTower Advisors LLC bought a new position in ProShares Ultra Bloomberg Natural Gas during the 3rd quarter valued at about $1,336,000. Centric Wealth Management boosted its position in ProShares Ultra Bloomberg Natural Gas by 100.0% in the third quarter. Centric Wealth Management now owns 40,000 shares of the exchange traded fund’s stock valued at $1,204,000 after buying an additional 20,000 shares in the last quarter. Group One Trading LLC grew its stake in ProShares Ultra Bloomberg Natural Gas by 69.4% during the third quarter. Group One Trading LLC now owns 62,847 shares of the exchange traded fund’s stock worth $1,885,000 after buying an additional 25,756 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the third quarter worth approximately $74,000. Finally, Revisor Wealth Management LLC acquired a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the third quarter worth approximately $342,000.

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.