ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report) reached a new 52-week low on Wednesday. The stock traded as low as $18.89 and last traded at $18.93, with a volume of 1706401 shares traded. The stock had previously closed at $19.47.
ProShares UltraShort Bloomberg Crude Oil Stock Performance
The stock’s 50 day simple moving average is $23.06 and its two-hundred day simple moving average is $27.23.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of SCO. NewEdge Advisors LLC acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at $144,000. Marks Group Wealth Management Inc acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the first quarter worth $528,000. Bank of New York Mellon Corp purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at $832,000. IMC Chicago LLC boosted its stake in shares of ProShares UltraShort Bloomberg Crude Oil by 156.1% in the first quarter. IMC Chicago LLC now owns 47,102 shares of the exchange traded fund’s stock valued at $392,000 after purchasing an additional 28,710 shares during the period. Finally, Talon Private Wealth LLC acquired a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at $8,517,000.
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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