ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) Shares to Reverse Split on Thursday, May 28th

ProShares Ultra Bloomberg Natural Gas (NYSEARCA:BOIL) shares are set to reverse split before the market opens on Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, May 27th.

ProShares Ultra Bloomberg Natural Gas Trading Down 5.1%

NYSEARCA:BOIL traded down $0.70 during trading hours on Tuesday, reaching $13.00. 10,416,154 shares of the stock were exchanged, compared to its average volume of 13,524,054. ProShares Ultra Bloomberg Natural Gas has a twelve month low of $12.07 and a twelve month high of $66.82. The firm has a 50 day moving average of $15.54 and a 200 day moving average of $22.72.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BOIL. Foundations Investment Advisors LLC bought a new position in shares of ProShares Ultra Bloomberg Natural Gas in the fourth quarter worth $1,981,000. SLT Holdings LLC bought a new stake in ProShares Ultra Bloomberg Natural Gas in the fourth quarter worth approximately $1,978,000. Simplex Trading LLC increased its holdings in shares of ProShares Ultra Bloomberg Natural Gas by 2,202.9% during the fourth quarter. Simplex Trading LLC now owns 76,227 shares of the exchange traded fund’s stock valued at $1,746,000 after acquiring an additional 72,917 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of ProShares Ultra Bloomberg Natural Gas during the third quarter valued at approximately $1,336,000. Finally, IMC Chicago LLC purchased a new position in ProShares Ultra Bloomberg Natural Gas in the fourth quarter worth $997,000.

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. BOIL was launched on Oct 4, 2011 and is managed by ProShares.