ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Trading 5.6% Higher – Should You Buy?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s stock price traded up 5.6% during mid-day trading on Wednesday . The company traded as high as $55.66 and last traded at $55.13. 773,092 shares changed hands during trading, a decline of 77% from the average session volume of 3,420,030 shares. The stock had previously closed at $52.21.

ProShares Ultra Bloomberg Natural Gas Price Performance

The firm’s 50-day simple moving average is $45.77 and its 200 day simple moving average is $50.11.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Natural Gas

An institutional investor recently bought a new position in ProShares Ultra Bloomberg Natural Gas stock. PVG Asset Management Corp bought a new stake in shares of ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 18,730 shares of the exchange traded fund’s stock, valued at approximately $217,000.

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.