ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares Gap Down – Time to Sell?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares gapped down prior to trading on Wednesday . The stock had previously closed at $15.08, but opened at $14.56. ProShares Ultra Bloomberg Natural Gas shares last traded at $14.3170, with a volume of 3,032,185 shares.

ProShares Ultra Bloomberg Natural Gas Stock Down 8.3%

The firm has a fifty day moving average of $15.03 and a two-hundred day moving average of $22.10.

ProShares Ultra Bloomberg Natural Gas’s stock is going to reverse split on the morning of Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, May 27th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Group One Trading LLC boosted its stake in ProShares Ultra Bloomberg Natural Gas by 69.4% in the 3rd quarter. Group One Trading LLC now owns 62,847 shares of the exchange traded fund’s stock worth $1,885,000 after purchasing an additional 25,756 shares during the period. Centric Wealth Management boosted its stake in ProShares Ultra Bloomberg Natural Gas by 100.0% in the 3rd quarter. Centric Wealth Management now owns 40,000 shares of the exchange traded fund’s stock worth $1,204,000 after purchasing an additional 20,000 shares during the period. HighTower Advisors LLC bought a new position in ProShares Ultra Bloomberg Natural Gas in the 3rd quarter worth about $1,336,000. IMC Chicago LLC bought a new position in ProShares Ultra Bloomberg Natural Gas in the 4th quarter worth about $997,000. Finally, EverSource Wealth Advisors LLC boosted its stake in ProShares Ultra Bloomberg Natural Gas by 1,432.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 37,645 shares of the exchange traded fund’s stock worth $862,000 after purchasing an additional 35,188 shares during the period.

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.