ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares Gap Down – Here’s Why

Shares of ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) gapped down prior to trading on Friday . The stock had previously closed at $51.38, but opened at $45.48. ProShares Ultra Bloomberg Natural Gas shares last traded at $45.78, with a volume of 1,129,863 shares trading hands.

ProShares Ultra Bloomberg Natural Gas Price Performance

The company has a 50-day moving average price of $46.06 and a 200-day moving average price of $61.06.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Kingswood Wealth Advisors LLC raised its position in shares of ProShares Ultra Bloomberg Natural Gas by 21.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 12,844 shares of the exchange traded fund’s stock worth $201,000 after purchasing an additional 2,308 shares during the period. EP Wealth Advisors LLC bought a new stake in ProShares Ultra Bloomberg Natural Gas during the 3rd quarter worth approximately $522,000. Finally, Jane Street Group LLC raised its holdings 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 worth $9,124,000 after buying an additional 140,485 shares during the period.

ProShares Ultra Bloomberg Natural Gas Company Profile

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.