ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Stock Price Down 9.2% – Should You Sell?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares dropped 9.2% on Monday . The company traded as low as $81.89 and last traded at $82.49. Approximately 590,147 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,280,847 shares. The stock had previously closed at $90.86.

ProShares Ultra Bloomberg Natural Gas Stock Performance

The firm’s 50 day moving average price is $61.70 and its 200-day moving average price is $51.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new position in shares of ProShares Ultra Bloomberg Natural Gas during the fourth quarter valued at approximately $28,000. BNP Paribas Financial Markets acquired a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the fourth quarter valued at about $153,000. PVG Asset Management Corp purchased a new position in shares of ProShares Ultra Bloomberg Natural Gas in the third quarter worth about $217,000. Squarepoint Ops LLC purchased a new stake in ProShares Ultra Bloomberg Natural Gas during the 4th quarter valued at about $2,366,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of ProShares Ultra Bloomberg Natural Gas during the 3rd quarter worth approximately $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.