ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report) was the recipient of a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 5,986,244 shares, a decrease of 55.0% from the May 14th total of 13,308,766 shares. Approximately 14.9% of the company’s stock are sold short. Based on an average daily trading volume, of 15,971,422 shares, the days-to-cover ratio is presently 0.4 days.
ProShares UltraShort Bloomberg Crude Oil Stock Performance
SCO stock traded up $1.45 during trading hours on Friday, hitting $28.03. The company’s stock had a trading volume of 10,972,537 shares, compared to its average volume of 8,476,045. ProShares UltraShort Bloomberg Crude Oil has a 12 month low of $22.84 and a 12 month high of $84.14. The stock has a 50 day moving average price of $27.88 and a two-hundred day moving average price of $50.57.
Institutional Trading of ProShares UltraShort Bloomberg Crude Oil
Several large investors have recently added to or reduced their stakes in SCO. Brookstone Capital Management bought a new stake in ProShares UltraShort Bloomberg Crude Oil in the first quarter worth approximately $8,930,000. Talon Private Wealth LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil in the first quarter worth approximately $8,517,000. Spectrum Financial Alliance Ltd LLC bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth $5,611,000. Group One Trading LLC boosted its holdings in shares of ProShares UltraShort Bloomberg Crude Oil by 607.7% during the 1st quarter. Group One Trading LLC now owns 223,321 shares of the exchange traded fund’s stock worth $1,858,000 after buying an additional 191,767 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter worth $3,076,000.
About ProShares UltraShort Bloomberg Crude Oil
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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