ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report)’s share price rose 6% on Tuesday . The company traded as high as $27.10 and last traded at $26.86. Approximately 4,724,434 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 8,372,443 shares. The stock had previously closed at $25.34.
ProShares UltraShort Bloomberg Crude Oil Stock Up 5.4%
The company’s fifty day simple moving average is $28.16 and its 200 day simple moving average is $51.09.
Institutional Trading of ProShares UltraShort Bloomberg Crude Oil
Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil in the first quarter worth $144,000. Integrated Investment Consultants LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil in the first quarter worth $946,000. Arkadios Wealth Advisors bought a new stake in ProShares UltraShort Bloomberg Crude Oil in the first quarter worth $108,000. Talon Private Wealth LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil in the first quarter worth $8,517,000. Finally, Waverly Advisors LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil in the first quarter worth $83,000.
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.
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