ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Trading Up 7.6% – Still a Buy?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s share price rose 7.6% on Tuesday . The company traded as high as $28.45 and last traded at $28.4430. 2,568,796 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 5,961,489 shares. The stock had previously closed at $26.44.

ProShares Ultra Bloomberg Natural Gas Stock Performance

The firm’s fifty day moving average price is $27.19 and its 200-day moving average price is $35.24.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

A number of institutional investors and hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC boosted its stake in shares of ProShares Ultra Bloomberg Natural Gas by 100.0% during the third 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. BNP Paribas Financial Markets raised its holdings in ProShares Ultra Bloomberg Natural Gas by 52.9% in the 3rd 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 during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in ProShares Ultra Bloomberg Natural Gas in the 3rd quarter valued at approximately $30,000. Marex Group plc boosted its position in ProShares Ultra Bloomberg Natural Gas by 19.1% during the 4th quarter. Marex Group plc now owns 11,918 shares of the exchange traded fund’s stock worth $273,000 after buying an additional 1,908 shares during the period. Finally, Allworth Financial LP acquired a new stake in ProShares Ultra Bloomberg Natural Gas during the 4th quarter worth approximately $46,000.

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. BOIL was launched on Oct 4, 2011 and is managed by ProShares.