ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares Gap Up – Should You Buy?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares gapped up prior to trading on Tuesday . The stock had previously closed at $64.78, but opened at $68.04. ProShares Ultra Bloomberg Natural Gas shares last traded at $67.97, with a volume of 359,993 shares.

ProShares Ultra Bloomberg Natural Gas Stock Performance

The company has a 50 day moving average price of $56.04 and a two-hundred day moving average price of $49.70.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BOIL. EP Wealth Advisors LLC acquired a new position in shares of ProShares Ultra Bloomberg Natural Gas during the third quarter worth $522,000. PVG Asset Management Corp purchased a new position in ProShares Ultra Bloomberg Natural Gas in the 3rd quarter worth about $217,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the fourth quarter worth approximately $28,000.

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.