ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Trading Up 10.5% – Time to Buy?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s stock price shot up 10.5% on Friday . The stock traded as high as $46.58 and last traded at $46.56. 1,127,181 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 2,321,569 shares. The stock had previously closed at $42.15.

ProShares Ultra Bloomberg Natural Gas Price Performance

The business has a 50 day moving average price of $45.97 and a 200 day moving average price of $60.17.

Institutional Trading of ProShares Ultra Bloomberg Natural Gas

Hedge funds have recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC raised its position in shares of ProShares Ultra Bloomberg Natural Gas by 21.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 12,844 shares of the exchange traded fund’s stock worth $201,000 after purchasing an additional 2,308 shares during the period. PVG Asset Management Corp bought a new stake in ProShares Ultra Bloomberg Natural Gas during the 3rd quarter worth approximately $217,000. EP Wealth Advisors LLC acquired a new stake in ProShares Ultra Bloomberg Natural Gas during the 3rd quarter worth approximately $522,000. Finally, Jane Street Group LLC lifted its stake in ProShares Ultra Bloomberg Natural Gas by 24.7% in the first quarter. Jane Street Group LLC now owns 709,523 shares of the exchange traded fund’s stock valued at $9,124,000 after buying an additional 140,485 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.