ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares Gap Down – Here’s Why

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) gapped down before the market opened on Thursday . The stock had previously closed at $95.84, but opened at $88.92. ProShares Ultra Bloomberg Natural Gas shares last traded at $88.36, with a volume of 613,755 shares.

ProShares Ultra Bloomberg Natural Gas Price Performance

The firm’s fifty day moving average price is $61.70 and its 200-day moving average price is $51.44.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Natural Gas

Hedge funds have recently modified their holdings of the company. EP Wealth Advisors LLC purchased a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the third quarter valued at approximately $522,000. PVG Asset Management Corp acquired a new stake in ProShares Ultra Bloomberg Natural Gas during the 3rd quarter worth about $217,000. JPMorgan Chase & Co. purchased a new position in ProShares Ultra Bloomberg Natural Gas during the 4th quarter valued at about $28,000. BNP Paribas Financial Markets bought a new position in shares of ProShares Ultra Bloomberg Natural Gas during the 4th quarter valued at $153,000. Finally, Squarepoint Ops LLC bought a new position in ProShares Ultra Bloomberg Natural Gas in the 4th quarter worth $2,366,000.

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.