ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 1,471,462 shares, a decrease of 75.4% from the May 31st total of 5,986,244 shares. Currently, 3.7% of the shares of the company are short sold. Based on an average daily trading volume, of 10,069,730 shares, the days-to-cover ratio is presently 0.1 days.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Brookstone Capital Management purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at about $8,930,000. Talon Private Wealth LLC purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter worth approximately $8,517,000. Spectrum Financial Alliance Ltd LLC purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter worth approximately $5,611,000. Group One Trading LLC grew its position in ProShares UltraShort Bloomberg Crude Oil by 607.7% during the first quarter. Group One Trading LLC now owns 223,321 shares of the exchange traded fund’s stock valued at $1,858,000 after buying an additional 191,767 shares during the period. Finally, Jump Financial LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the second quarter valued at approximately $3,076,000.
ProShares UltraShort Bloomberg Crude Oil Stock Performance
Shares of SCO traded down $0.77 during trading hours on Monday, hitting $34.83. The stock had a trading volume of 3,086,768 shares, compared to its average volume of 8,377,167. 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 fifty day moving average price of $28.03 and a 200 day moving average price of $47.39.
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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