ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Cross Above 200 Day Moving Average – What’s Next?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.01 and traded as high as $18.52. ProShares UltraShort Bloomberg Crude Oil shares last traded at $18.49, with a volume of 1,629,192 shares.

ProShares UltraShort Bloomberg Crude Oil Price Performance

The firm’s 50-day moving average price is $19.06 and its two-hundred day moving average price is $18.01.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the 3rd quarter valued at $61,000. Raymond James Financial Inc. bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the second quarter valued at about $70,000. XTX Topco Ltd purchased a new position in ProShares UltraShort Bloomberg Crude Oil in the second quarter valued at about $235,000. EverSource Wealth Advisors LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil in the second quarter worth about $271,000. Finally, Flow Traders U.S. LLC purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the second quarter valued at about $563,000.

ProShares UltraShort Bloomberg Crude Oil Company Profile

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.