ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Sees Unusually-High Trading Volume – Still a Buy?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) saw unusually-strong trading volume on Wednesday . Approximately 1,256,294 shares changed hands during trading, a decline of 46% from the previous session’s volume of 2,313,052 shares.The stock last traded at $44.00 and had previously closed at $50.49.

ProShares Ultra Bloomberg Natural Gas Trading Down 16.5 %

The firm has a fifty day moving average price of $46.06 and a 200 day moving average price of $60.30.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Natural Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PVG Asset Management Corp acquired a new position in ProShares Ultra Bloomberg Natural Gas during the 3rd quarter valued at approximately $217,000. EP Wealth Advisors LLC purchased a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the third quarter valued at $522,000. Kingswood Wealth Advisors LLC increased its position in shares of ProShares Ultra Bloomberg Natural Gas by 21.9% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 12,844 shares of the exchange traded fund’s stock valued at $201,000 after acquiring an additional 2,308 shares during the period. Finally, Jane Street Group LLC raised its stake in ProShares Ultra Bloomberg Natural Gas by 24.7% in the 1st quarter. Jane Street Group LLC now owns 709,523 shares of the exchange traded fund’s stock worth $9,124,000 after acquiring an additional 140,485 shares during the last quarter.

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.