ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares Cross Below Fifty Day Moving Average – Time to Sell?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $31.38 and traded as low as $23.77. ProShares Ultra Bloomberg Natural Gas shares last traded at $23.87, with a volume of 5,554,282 shares changing hands.

ProShares Ultra Bloomberg Natural Gas Trading Down 4.9%

The firm’s 50-day moving average price is $31.38 and its 200 day moving average price is $35.07.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

Several institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC boosted its position in shares of ProShares Ultra Bloomberg Natural Gas by 100.0% during the 3rd 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 acquired a new position in ProShares Ultra Bloomberg Natural Gas during the 3rd quarter worth approximately $30,000. BNP Paribas Financial Markets boosted its holdings 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 worth $61,000 after acquiring an additional 701 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in ProShares Ultra Bloomberg Natural Gas in the third quarter valued at approximately $74,000. Finally, Thrive Wealth Management LLC acquired a new stake in ProShares Ultra Bloomberg Natural Gas in the third quarter valued at approximately $231,000.

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.