ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Share Price Pass Below 50-Day Moving Average – What’s Next?

Shares of ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $25.50 and traded as low as $18.44. ProShares Ultra Bloomberg Natural Gas shares last traded at $18.59, with a volume of 10,683,628 shares trading hands.

ProShares Ultra Bloomberg Natural Gas Trading Down 15.6%

The company’s 50-day simple moving average is $25.50 and its 200 day simple moving average is $28.97.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Natural Gas

Several institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC increased 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 worth $29,000 after purchasing an additional 500 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in ProShares Ultra Bloomberg Natural Gas during the 3rd quarter worth $30,000. Allworth Financial LP acquired a new position in ProShares Ultra Bloomberg Natural Gas during the 4th quarter valued at about $46,000. BNP Paribas Financial Markets raised its stake in 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 valued at $61,000 after buying an additional 701 shares during the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new stake in ProShares Ultra Bloomberg Natural Gas in the third quarter worth about $74,000.

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.