ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Share Price Cross Below 50-Day Moving Average – Should You Sell?

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $9.57 and traded as low as $8.01. ProShares Ultra Bloomberg Natural Gas shares last traded at $8.21, with a volume of 26,593,542 shares trading hands.

ProShares Ultra Bloomberg Natural Gas Stock Performance

The stock has a 50-day simple moving average of $9.53 and a 200-day simple moving average of $12.89.

ProShares Ultra Bloomberg Natural Gas shares are going to reverse split on the morning of Thursday, November 7th. The 1-5 reverse split was announced on Monday, October 28th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 6th.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Natural Gas

A hedge fund recently raised its stake in ProShares Ultra Bloomberg Natural Gas stock. Kingswood Wealth Advisors LLC boosted its holdings in ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) by 21.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,844 shares of the exchange traded fund’s stock after buying an additional 2,308 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in ProShares Ultra Bloomberg Natural Gas were worth $201,000 as of its most recent SEC filing.

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.