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

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s share price gapped down before the market opened on Friday . The stock had previously closed at $51.38, but opened at $45.48. ProShares Ultra Bloomberg Natural Gas shares last traded at $45.78, with a volume of 1,129,863 shares trading hands.

ProShares Ultra Bloomberg Natural Gas Stock Performance

The firm has a 50 day moving average of $46.07 and a 200 day moving average of $61.27.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Natural Gas

Large investors have recently bought and sold shares of the stock. Kingswood Wealth Advisors LLC grew its stake in ProShares Ultra Bloomberg Natural Gas by 21.9% in the second quarter. Kingswood Wealth Advisors LLC now owns 12,844 shares of the exchange traded fund’s stock valued at $201,000 after acquiring an additional 2,308 shares during the period. Jane Street Group LLC lifted its holdings in shares of ProShares Ultra Bloomberg Natural Gas by 24.7% in the 1st quarter. Jane Street Group LLC now owns 709,523 shares of the exchange traded fund’s stock worth $9,124,000 after purchasing an additional 140,485 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of ProShares Ultra Bloomberg Natural Gas in the 3rd quarter worth $522,000.

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.