ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Gap Up – Here’s What Happened

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) gapped up prior to trading on Tuesday . The stock had previously closed at $24.33, but opened at $25.40. ProShares UltraShort Bloomberg Crude Oil shares last traded at $25.46, with a volume of 1,077,983 shares.

ProShares UltraShort Bloomberg Crude Oil Price Performance

The firm’s 50-day simple moving average is $29.34 and its 200-day simple moving average is $33.67.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at $144,000. Integrated Investment Consultants LLC bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth $946,000. Arkadios Wealth Advisors purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the first quarter valued at $108,000. Talon Private Wealth LLC purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the first quarter valued at $8,517,000. Finally, Waverly Advisors LLC bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at about $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.