ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares Gap Up – Time to Buy?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $83.27, but opened at $89.12. ProShares Ultra Bloomberg Natural Gas shares last traded at $91.80, with a volume of 473,200 shares.

ProShares Ultra Bloomberg Natural Gas Stock Performance

The stock’s fifty day moving average price is $58.88 and its two-hundred day moving average price is $50.53.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. purchased a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the 4th quarter worth about $28,000. BNP Paribas Financial Markets bought a new stake in ProShares Ultra Bloomberg Natural Gas during the fourth quarter worth about $153,000. PVG Asset Management Corp purchased a new stake in ProShares Ultra Bloomberg Natural Gas in the third quarter worth about $217,000. Squarepoint Ops LLC bought a new position in shares of ProShares Ultra Bloomberg Natural Gas during the fourth quarter valued at approximately $2,366,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of ProShares Ultra Bloomberg Natural Gas during the third quarter valued at approximately $522,000.

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.