ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Trading Down 6.5% – Here’s What Happened

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s share price dropped 6.5% on Tuesday . The company traded as low as $39.44 and last traded at $39.49. Approximately 1,475,162 shares changed hands during trading, a decline of 37% from the average daily volume of 2,334,553 shares. The stock had previously closed at $42.25.

ProShares Ultra Bloomberg Natural Gas Stock Down 8.9 %

The firm’s 50 day moving average is $45.57 and its 200-day moving average is $59.24.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Kingswood Wealth Advisors LLC lifted its holdings in ProShares Ultra Bloomberg Natural Gas by 21.9% in the 2nd 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 last quarter. PVG Asset Management Corp bought a new position in shares of ProShares Ultra Bloomberg Natural Gas in the third quarter valued at approximately $217,000. EP Wealth Advisors LLC acquired a new stake in shares of ProShares Ultra Bloomberg Natural Gas in the third quarter worth $522,000. Finally, Jane Street Group LLC boosted its holdings in shares of 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.