ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report) were down 8% on Monday . The stock traded as low as $6.35 and last traded at $6.36. Approximately 36,582,381 shares traded hands during trading, an increase of 26% from the average daily volume of 29,087,391 shares. The stock had previously closed at $6.91.
ProShares UltraShort Bloomberg Crude Oil Stock Performance
The firm has a 50 day simple moving average of $8.78 and a two-hundred day simple moving average of $14.80.
Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cassaday & Co Wealth Management LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the first quarter worth $30,000. Marks Group Wealth Management Inc bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the first quarter worth $528,000. Bank of New York Mellon Corp bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the first quarter worth $832,000. IMC Chicago LLC lifted its stake in ProShares UltraShort Bloomberg Crude Oil by 156.1% during the first quarter. IMC Chicago LLC now owns 47,102 shares of the exchange traded fund’s stock worth $392,000 after purchasing an additional 28,710 shares during the last quarter. Finally, Nicholson Wealth Management Group LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the first quarter worth $175,000.
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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