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

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares 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 changing hands.

ProShares Ultra Bloomberg Natural Gas Stock Performance

The firm’s 50-day simple moving average is $25.50 and its two-hundred day simple moving average is $28.97.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

Several hedge funds have recently made changes to their positions in BOIL. SLT Holdings LLC acquired a new stake in ProShares Ultra Bloomberg Natural Gas during the 4th quarter worth about $1,978,000. EverSource Wealth Advisors LLC raised its stake in shares of ProShares Ultra Bloomberg Natural Gas by 1,432.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 37,645 shares of the exchange traded fund’s stock worth $862,000 after purchasing an additional 35,188 shares during the last quarter. Csenge Advisory Group acquired a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the fourth quarter worth about $285,000. Allworth Financial LP acquired a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the fourth quarter worth about $46,000. Finally, IMC Chicago LLC purchased a new stake in ProShares Ultra Bloomberg Natural Gas in the fourth quarter valued at approximately $997,000.

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.