ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Reaches New 12-Month Low – Here’s What Happened

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $6.87 and last traded at $6.99, with a volume of 42469790 shares. The stock had previously closed at $7.17.

ProShares UltraShort Bloomberg Crude Oil Stock Down 2.5%

The company’s fifty day moving average is $9.57 and its 200-day moving average is $15.25.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in ProShares UltraShort Bloomberg Crude Oil during the 3rd quarter valued at approximately $61,000. Group One Trading LLC grew its holdings in ProShares UltraShort Bloomberg Crude Oil by 99.5% during the 4th quarter. Group One Trading LLC now owns 31,554 shares of the exchange traded fund’s stock valued at $619,000 after buying an additional 15,738 shares in the last quarter. Jump Financial LLC purchased a new stake in ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter valued at approximately $3,076,000. Quadrature Capital Ltd purchased a new stake in ProShares UltraShort Bloomberg Crude Oil during the 3rd quarter valued at approximately $1,844,000. Finally, Tower Research Capital LLC TRC grew its holdings in ProShares UltraShort Bloomberg Crude Oil by 237.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 64,182 shares of the exchange traded fund’s stock valued at $1,159,000 after buying an additional 45,164 shares in the last quarter.

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.