ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares Up 16.6% – Still a Buy?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL)’s share price were up 16.6% during trading on Monday . The company traded as high as $60.44 and last traded at $60.48. Approximately 1,018,537 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 3,583,746 shares. The stock had previously closed at $51.88.

ProShares Ultra Bloomberg Natural Gas Stock Performance

The firm has a 50-day moving average of $53.31 and a two-hundred day moving average of $49.20.

Institutional Trading of ProShares Ultra Bloomberg Natural Gas

A hedge fund recently bought a new stake in ProShares Ultra Bloomberg Natural Gas stock. PVG Asset Management Corp acquired a new stake in shares of ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 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.