ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares Cross Above 50-Day Moving Average – What’s Next?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $28.90 and traded as high as $30.40. ProShares Ultra Bloomberg Natural Gas shares last traded at $29.69, with a volume of 6,291,153 shares changing hands.

ProShares Ultra Bloomberg Natural Gas Price Performance

The stock’s fifty day moving average is $28.90 and its 200-day moving average is $43.45.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

A number of hedge funds have recently modified their holdings of BOIL. Headlands Technologies LLC purchased a new position in shares of ProShares Ultra Bloomberg Natural Gas during the 1st quarter worth $85,000. Flow Traders U.S. LLC purchased a new position in shares of ProShares Ultra Bloomberg Natural Gas during the 1st quarter worth $1,625,000. Jump Financial LLC purchased a new position in shares of ProShares Ultra Bloomberg Natural Gas during the 1st quarter worth $3,029,000. Everstar Asset Management LLC purchased a new position in shares of ProShares Ultra Bloomberg Natural Gas during the 1st quarter worth $1,805,000. Finally, Simplex Trading LLC grew its holdings in shares of ProShares Ultra Bloomberg Natural Gas by 8,623.8% during the 2nd quarter. Simplex Trading LLC now owns 23,467 shares of the exchange traded fund’s stock worth $1,081,000 after purchasing an additional 23,198 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.