ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $6.35, but opened at $6.99. ProShares UltraShort Bloomberg Crude Oil shares last traded at $6.99, with a volume of 31,353,611 shares.
ProShares UltraShort Bloomberg Crude Oil Price Performance
The company’s 50-day moving average is $8.78 and its 200-day moving average is $14.80.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the second quarter worth about $70,000. JPMorgan Chase & Co. bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the third quarter worth about $61,000. Bank of New York Mellon Corp bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the first quarter worth about $832,000. Cassaday & Co Wealth Management LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the first quarter worth about $30,000. Finally, Marks Group Wealth Management Inc bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the first quarter worth about $528,000.
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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