ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Trading 10.3% Higher – Still a Buy?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s stock price rose 10.3% on Monday . The company traded as high as $17.21 and last traded at $17.3520. Approximately 7,893,819 shares were traded during trading, a decline of 37% from the average daily volume of 12,616,814 shares. The stock had previously closed at $15.73.

ProShares Ultra Bloomberg Natural Gas Price Performance

The firm’s 50 day moving average price is $29.80 and its two-hundred day moving average price is $32.09.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Natural Gas

A number of hedge funds and other institutional investors have recently bought and sold shares of BOIL. FNY Investment Advisers LLC boosted its stake in ProShares Ultra Bloomberg Natural Gas by 100.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 1,000 shares of the exchange traded fund’s stock worth $29,000 after purchasing an additional 500 shares during the period. BNP Paribas Financial Markets lifted its stake 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 worth $61,000 after purchasing an additional 701 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in ProShares Ultra Bloomberg Natural Gas in the 3rd quarter valued at $30,000. Thrive Wealth Management LLC grew its position in shares of ProShares Ultra Bloomberg Natural Gas by 29.9% during the 4th quarter. Thrive Wealth Management LLC now owns 10,000 shares of the exchange traded fund’s stock valued at $229,000 after purchasing an additional 2,300 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new stake in ProShares Ultra Bloomberg Natural Gas during the third quarter valued at $74,000.

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.