ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Hits New 52-Week Low – What’s Next?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares reached a new 52-week low on Thursday . The company traded as low as $15.69 and last traded at $16.47, with a volume of 21245528 shares. The stock had previously closed at $18.60.

ProShares Ultra Bloomberg Natural Gas Stock Down 11.5%

The company has a 50 day moving average of $28.93 and a 200 day moving average of $31.52.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BOIL. FNY Investment Advisers LLC raised its holdings in shares of ProShares Ultra Bloomberg Natural Gas by 100.0% during the 3rd quarter. FNY Investment Advisers LLC now owns 1,000 shares of the exchange traded fund’s stock valued at $29,000 after purchasing an additional 500 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in ProShares Ultra Bloomberg Natural Gas during the third quarter valued at about $30,000. BNP Paribas Financial Markets raised its holdings in 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 valued at $61,000 after buying an additional 701 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the third quarter worth about $74,000. Finally, Thrive Wealth Management LLC boosted its stake in shares of ProShares Ultra Bloomberg Natural Gas by 29.9% during the 4th quarter. Thrive Wealth Management LLC now owns 10,000 shares of the exchange traded fund’s stock worth $229,000 after acquiring an additional 2,300 shares in the last quarter.

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.