ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Trading 7.3% Higher – Time to Buy?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s share price traded up 7.3% during trading on Wednesday . The stock traded as high as $67.22 and last traded at $67.68. 2,019,966 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 4,111,820 shares. The stock had previously closed at $63.08.

ProShares Ultra Bloomberg Natural Gas Stock Up 8.8 %

The firm has a fifty day simple moving average of $50.58 and a 200 day simple moving average of $49.12.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

A hedge fund recently bought a new stake in ProShares Ultra Bloomberg Natural Gas stock. PVG Asset Management Corp bought a new position in ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,730 shares of the exchange traded fund’s stock, valued at approximately $217,000.

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.