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

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) gapped up before the market opened on Wednesday . The stock had previously closed at $27.26, but opened at $28.39. ProShares Ultra Bloomberg Natural Gas shares last traded at $28.6090, with a volume of 844,208 shares changing hands.

ProShares Ultra Bloomberg Natural Gas Trading Up 2.6%

The stock has a 50-day simple moving average of $27.61 and a two-hundred day simple moving average of $40.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC increased its holdings in shares of ProShares Ultra Bloomberg Natural Gas by 100.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 1,000 shares of the exchange traded fund’s stock valued at $29,000 after acquiring an additional 500 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of ProShares Ultra Bloomberg Natural Gas by 52.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,026 shares of the exchange traded fund’s stock valued at $61,000 after acquiring an additional 701 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of ProShares Ultra Bloomberg Natural Gas in the 3rd quarter valued at $30,000. Marex Group plc increased its holdings in shares of ProShares Ultra Bloomberg Natural Gas by 19.1% in the 4th quarter. Marex Group plc now owns 11,918 shares of the exchange traded fund’s stock valued at $273,000 after acquiring an additional 1,908 shares during the period. Finally, Allworth Financial LP purchased a new position in shares of ProShares Ultra Bloomberg Natural Gas in the 4th quarter valued at $46,000.

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.