ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Trading Up 6.4% – Still a Buy?

Shares of ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) rose 6.4% during mid-day trading on Tuesday . The company traded as high as $15.07 and last traded at $15.1250. Approximately 7,873,096 shares changed hands during trading, a decline of 40% from the average daily volume of 13,180,071 shares. The stock had previously closed at $14.21.

ProShares Ultra Bloomberg Natural Gas Stock Up 6.2%

The stock has a 50 day moving average price of $15.13 and a 200 day moving average price of $22.18.

ProShares Ultra Bloomberg Natural Gas’s stock is scheduled to reverse split on Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, May 27th.

Institutional Trading of ProShares Ultra Bloomberg Natural Gas

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Group One Trading LLC raised its position in shares of ProShares Ultra Bloomberg Natural Gas by 15.8% during the first quarter. Group One Trading LLC now owns 44,680 shares of the exchange traded fund’s stock worth $720,000 after purchasing an additional 6,092 shares during the period. Corigliano Investment Advisers LLC raised its position in shares of ProShares Ultra Bloomberg Natural Gas by 43.4% during the fourth quarter. Corigliano Investment Advisers LLC now owns 41,600 shares of the exchange traded fund’s stock worth $953,000 after purchasing an additional 12,600 shares during the period. Royal Bank of Canada acquired a new stake in shares of ProShares Ultra Bloomberg Natural Gas during the fourth quarter worth $162,000. HRT Financial LP raised its position in shares of ProShares Ultra Bloomberg Natural Gas by 57.5% during the fourth quarter. HRT Financial LP now owns 33,001 shares of the exchange traded fund’s stock worth $755,000 after purchasing an additional 12,045 shares during the period. Finally, Marex Group plc raised its position in shares of ProShares Ultra Bloomberg Natural Gas by 19.1% during the fourth quarter. Marex Group plc now owns 11,918 shares of the exchange traded fund’s stock worth $273,000 after purchasing an additional 1,908 shares during the period.

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.