ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Sees Large Growth in Short Interest

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 15,171,259 shares, a growth of 1,766.7% from the April 15th total of 812,736 shares. Approximately 9.4% of the company’s stock are short sold. Based on an average daily trading volume, of 51,020,687 shares, the days-to-cover ratio is presently 0.3 days.

ProShares UltraShort Bloomberg Crude Oil Stock Up 3.1%

Shares of ProShares UltraShort Bloomberg Crude Oil stock traded up $0.19 on Wednesday, hitting $6.30. The company had a trading volume of 57,145,442 shares, compared to its average volume of 29,955,932. ProShares UltraShort Bloomberg Crude Oil has a twelve month low of $6.06 and a twelve month high of $21.47. The stock has a 50-day moving average of $8.30 and a 200-day moving average of $14.53.

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ProShares UltraShort Bloomberg Crude Oil shares are going to reverse split before the market opens on Thursday, May 28th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, May 27th.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

A number of institutional investors have recently made changes to their positions in SCO. Cassaday & Co Wealth Management LLC bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter worth $30,000. JPMorgan Chase & Co. bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the third quarter worth $61,000. Raymond James Financial Inc. bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the second quarter worth $70,000. Simplicity Wealth LLC bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter worth $91,000. Finally, Nicholson Wealth Management Group LLC bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter worth $175,000.

About ProShares UltraShort Bloomberg Crude Oil

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The ProShares UltraShort Bloomberg Crude Oil (SCO) is an exchange-traded fund that is based on the Bloomberg WTI Crude Oil Subindex index. The fund provides -2x the daily return of an index of futures contracts on light sweet crude oil. SCO was launched on Nov 24, 2008 and is managed by ProShares.

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