ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Stock Cross Below 200-Day Moving Average – Here’s Why

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.56 and traded as low as $17.26. ProShares Ultra Bloomberg Natural Gas shares last traded at $17.71, with a volume of 12,199,031 shares changing hands.

ProShares Ultra Bloomberg Natural Gas Price Performance

The firm’s fifty day moving average price is $20.48 and its two-hundred day moving average price is $26.56.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

A number of institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC raised its holdings in shares of ProShares Ultra Bloomberg Natural Gas by 100.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 1,000 shares of the exchange traded fund’s stock valued at $29,000 after acquiring an additional 500 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the 3rd quarter valued at about $30,000. Allworth Financial LP purchased a new position in shares of ProShares Ultra Bloomberg Natural Gas during the fourth quarter worth about $46,000. BNP Paribas Financial Markets grew its holdings in shares of ProShares Ultra Bloomberg Natural Gas by 52.9% during the third quarter. BNP Paribas Financial Markets now owns 2,026 shares of the exchange traded fund’s stock worth $61,000 after purchasing an additional 701 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new position in shares of ProShares Ultra Bloomberg Natural Gas in the third quarter worth approximately $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.