ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares Gap Down – What’s Next?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $31.79, but opened at $29.97. ProShares Ultra Bloomberg Natural Gas shares last traded at $29.7530, with a volume of 4,959,855 shares trading hands.

ProShares Ultra Bloomberg Natural Gas Stock Up 7.2%

The company’s 50 day moving average price is $26.96 and its 200-day moving average price is $30.16.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

Hedge funds and other institutional investors have recently modified their holdings of the business. IMC Chicago LLC bought a new stake in ProShares Ultra Bloomberg Natural Gas during the fourth quarter worth $997,000. Revisor Wealth Management LLC raised its stake in shares of ProShares Ultra Bloomberg Natural Gas by 95.6% during the 4th quarter. Revisor Wealth Management LLC now owns 23,328 shares of the exchange traded fund’s stock worth $534,000 after purchasing an additional 11,404 shares during the period. Archford Capital Strategies LLC purchased a new position in shares of ProShares Ultra Bloomberg Natural Gas in the 4th quarter worth about $202,000. Thrive Wealth Management LLC grew its position in ProShares Ultra Bloomberg Natural Gas by 29.9% during the fourth quarter. Thrive Wealth Management LLC now owns 10,000 shares of the exchange traded fund’s stock valued at $229,000 after buying an additional 2,300 shares during the period. Finally, FNY Investment Advisers LLC raised its position in ProShares Ultra Bloomberg Natural Gas by 100.0% in the third quarter. FNY Investment Advisers LLC now owns 1,000 shares of the exchange traded fund’s stock worth $29,000 after acquiring an additional 500 shares during the period.

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.