ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) shares gapped up prior to trading on Tuesday . The stock had previously closed at $16.79, but opened at $17.08. ProShares Ultra Bloomberg Crude Oil shares last traded at $17.20, with a volume of 101,235 shares trading hands.

The stock has a fifty day moving average of $17.37 and a 200-day moving average of $17.87.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Advocates Investment Management bought a new position in shares of ProShares Ultra Bloomberg Crude Oil in the second quarter valued at $221,000. SG Americas Securities LLC acquired a new stake in ProShares Ultra Bloomberg Crude Oil in the third quarter valued at $352,000. Simplex Trading LLC acquired a new stake in ProShares Ultra Bloomberg Crude Oil in the third quarter valued at $577,000. Finally, Lido Advisors LLC grew its position in shares of ProShares Ultra Bloomberg Crude Oil by 446.4% in the 2nd quarter. Lido Advisors LLC now owns 289,612 shares of the exchange traded fund’s stock valued at $5,595,000 after acquiring an additional 236,612 shares during the period.

About ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO)

ProShares Ultra DJ-UBS Crude Oil seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones UBS Crude Oil Sub-Index. The Dow Jones-UBS Crude Oil Sub-Index is intended to reflect the performance of crude oil as measured by the price of futures contracts of sweet, light crude oil traded on the New York Mercantile Exchange (the NYMEX), including roll costs, without regard to income earned on cash positions.

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