ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Trading 7.2% Higher – Time to Buy?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares were up 7.2% during trading on Friday . The stock traded as high as $35.79 and last traded at $35.7560. Approximately 2,867,386 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 4,384,573 shares. The stock had previously closed at $33.36.

ProShares Ultra Bloomberg Natural Gas Stock Performance

The business has a 50 day moving average of $30.64 and a two-hundred day moving average of $38.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BOIL. Flow Traders U.S. LLC purchased a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the 1st quarter valued at about $1,625,000. Tejara Capital Ltd purchased a new position in ProShares Ultra Bloomberg Natural Gas in the 2nd quarter worth approximately $1,751,000. Centric Wealth Management acquired a new stake in ProShares Ultra Bloomberg Natural Gas in the second quarter valued at approximately $922,000. Jump Financial LLC purchased a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the first quarter valued at approximately $3,029,000. Finally, Everstar Asset Management LLC purchased a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the first quarter valued at approximately $1,805,000.

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.