ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Trading Down 4.7% – Here’s Why

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s share price fell 4.7% during trading on Thursday . The stock traded as low as $52.57 and last traded at $53.21. 1,530,555 shares traded hands during trading, a decline of 58% from the average session volume of 3,682,565 shares. The stock had previously closed at $55.82.

ProShares Ultra Bloomberg Natural Gas Price Performance

The stock’s fifty day moving average is $52.79 and its two-hundred day moving average is $49.15.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

An institutional investor recently bought a new position in ProShares Ultra Bloomberg Natural Gas stock. PVG Asset Management Corp purchased a new position in shares of ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,730 shares of the exchange traded fund’s stock, valued at approximately $217,000.

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.