ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Reaches New 1-Year Low – Here’s Why

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $18.02 and last traded at $18.22, with a volume of 13222604 shares changing hands. The stock had previously closed at $19.77.

ProShares Ultra Bloomberg Natural Gas Trading Down 13.7%

The firm’s 50-day moving average price is $29.80 and its 200-day moving average price is $32.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BOIL. FNY Investment Advisers LLC boosted its holdings in ProShares Ultra Bloomberg Natural Gas by 100.0% in the third quarter. FNY Investment Advisers LLC now owns 1,000 shares of the exchange traded fund’s stock valued at $29,000 after purchasing an additional 500 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of ProShares Ultra Bloomberg Natural Gas in the 3rd quarter valued at about $30,000. BNP Paribas Financial Markets boosted its stake in shares of ProShares Ultra Bloomberg Natural Gas by 52.9% in the third quarter. BNP Paribas Financial Markets now owns 2,026 shares of the exchange traded fund’s stock worth $61,000 after buying an additional 701 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the third quarter worth about $74,000. Finally, HUB Investment Partners LLC acquired a new stake in ProShares Ultra Bloomberg Natural Gas during the second quarter worth about $324,000.

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. BOIL was launched on Oct 4, 2011 and is managed by ProShares.