ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Share Price Cross Below Two Hundred Day Moving Average – Should You Sell?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.21 and traded as low as $7.97. ProShares Ultra Bloomberg Natural Gas shares last traded at $8.04, with a volume of 12,920,460 shares trading hands.

ProShares Ultra Bloomberg Natural Gas Price Performance

The business has a 50-day moving average of $9.80 and a 200 day moving average of $13.21.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

Hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. boosted its stake in ProShares Ultra Bloomberg Natural Gas by 84.3% during the 1st quarter. Sunbelt Securities Inc. now owns 2,707 shares of the exchange traded fund’s stock valued at $35,000 after purchasing an additional 1,238 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in ProShares Ultra Bloomberg Natural Gas during the 1st quarter valued at about $135,000. Traynor Capital Management Inc. acquired a new position in ProShares Ultra Bloomberg Natural Gas during the 1st quarter valued at about $166,000. Finally, Jane Street Group LLC boosted its stake in ProShares Ultra Bloomberg Natural Gas by 24.7% during the 1st quarter. Jane Street Group LLC now owns 709,523 shares of the exchange traded fund’s stock valued at $9,124,000 after purchasing an additional 140,485 shares during the last quarter.

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.