ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Shares Gap Down to $17.63

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) shares gapped down before the market opened on Thursday . The stock had previously closed at $18.73, but opened at $17.63. ProShares Ultra Bloomberg Crude Oil shares last traded at $17.03, with a volume of 6,039,702 shares.

The firm has a fifty day simple moving average of $17.26 and a 200 day simple moving average of $19.80.

Several institutional investors have recently bought and sold shares of the company. Lido Advisors LLC lifted its position in ProShares Ultra Bloomberg Crude Oil by 446.4% during the 2nd quarter. Lido Advisors LLC now owns 289,612 shares of the exchange traded fund’s stock worth $5,595,000 after acquiring an additional 236,612 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in ProShares Ultra Bloomberg Crude Oil during the 1st quarter worth approximately $290,000. Deutsche Bank AG purchased a new stake in ProShares Ultra Bloomberg Crude Oil during the 4th quarter worth approximately $178,000. Financial Advocates Investment Management purchased a new stake in ProShares Ultra Bloomberg Crude Oil during the 2nd quarter worth approximately $221,000. Finally, Aveo Capital Partners LLC purchased a new stake in shares of ProShares Ultra Bloomberg Crude Oil in the first quarter valued at approximately $214,000.

About ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO)

ProShares Ultra DJ-UBS Crude Oil seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones UBS Crude Oil Sub-Index. The Dow Jones-UBS Crude Oil Sub-Index is intended to reflect the performance of crude oil as measured by the price of futures contracts of sweet, light crude oil traded on the New York Mercantile Exchange (the NYMEX), including roll costs, without regard to income earned on cash positions.

Further Reading: Stochastic Momentum Index (SMI)

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