ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares Cross Below 200 Day Moving Average – Time to Sell?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s share price 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 trading hands.

ProShares Ultra Bloomberg Natural Gas Trading Up 7.9%

The business has a fifty day simple moving average of $20.44 and a 200 day simple moving average of $26.42.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

Several large investors have recently added to or reduced their stakes in the company. Flow Traders U.S. LLC increased its stake in ProShares Ultra Bloomberg Natural Gas by 386.9% during the second quarter. Flow Traders U.S. LLC now owns 92,249 shares of the exchange traded fund’s stock valued at $4,251,000 after purchasing an additional 73,304 shares during the last quarter. StoneX Group Inc. bought a new position in shares of ProShares Ultra Bloomberg Natural Gas in the 2nd quarter worth about $936,000. Centric Wealth Management boosted its holdings in shares of ProShares Ultra Bloomberg Natural Gas by 100.0% in the 3rd quarter. Centric Wealth Management now owns 40,000 shares of the exchange traded fund’s stock valued at $1,204,000 after buying an additional 20,000 shares during the period. Tejara Capital Ltd acquired a new position in shares of ProShares Ultra Bloomberg Natural Gas in the 2nd quarter valued at about $1,751,000. Finally, HighTower Advisors LLC bought a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the 3rd quarter valued at about $1,336,000.

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.