ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Stock Price Up 7.1% – Should You Buy?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares were up 7.1% during trading on Thursday . The company traded as high as $33.31 and last traded at $32.5840. Approximately 14,826,707 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 18,865,518 shares. The stock had previously closed at $30.43.

ProShares Ultra Bloomberg Natural Gas Trading Up 7.2%

The business has a 50-day moving average of $26.99 and a 200-day moving average of $30.14.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

A number of hedge funds have recently made changes to their positions in the stock. Flow Traders U.S. LLC raised its position in ProShares Ultra Bloomberg Natural Gas by 386.9% in 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 period. HighTower Advisors LLC purchased a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the 3rd quarter valued at $1,336,000. IMC Chicago LLC acquired a new position in ProShares Ultra Bloomberg Natural Gas during the 4th quarter worth about $997,000. Tejara Capital Ltd purchased a new position in ProShares Ultra Bloomberg Natural Gas during the 2nd quarter valued at about $1,751,000. Finally, Group One Trading LLC acquired a new position in ProShares Ultra Bloomberg Natural Gas in the 2nd quarter valued at about $1,709,000.

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.