ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Sees Large Volume Increase – Should You Buy?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares saw an uptick in trading volume on Wednesday . 1,256,294 shares traded hands during mid-day trading, a decline of 46% from the previous session’s volume of 2,313,052 shares.The stock last traded at $44.00 and had previously closed at $50.49.

ProShares Ultra Bloomberg Natural Gas Stock Performance

The company’s 50-day moving average price is $46.14 and its two-hundred day moving average price is $60.42.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Natural Gas

Hedge funds have recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC grew its position in shares of ProShares Ultra Bloomberg Natural Gas by 21.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 12,844 shares of the exchange traded fund’s stock worth $201,000 after buying an additional 2,308 shares during the period. Jane Street Group LLC grew its holdings in ProShares Ultra Bloomberg Natural Gas by 24.7% in the first 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 during the period. EP Wealth Advisors LLC bought a new stake in ProShares Ultra Bloomberg Natural Gas in the third quarter valued at $522,000. Finally, PVG Asset Management Corp acquired a new position in shares of ProShares Ultra Bloomberg Natural Gas during the third quarter valued at about $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.