ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Short Interest Update

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totaling 15,171,259 shares, an increase of 1,766.7% from the April 15th total of 812,736 shares. Approximately 9.4% of the shares of the company are short sold. Based on an average trading volume of 51,020,687 shares, the short-interest ratio is currently 0.3 days.

ProShares UltraShort Bloomberg Crude Oil Trading Down 7.2%

ProShares UltraShort Bloomberg Crude Oil stock traded down $0.50 during trading hours on Monday, hitting $6.41. The stock had a trading volume of 57,063,107 shares, compared to its average volume of 29,362,848. The company has a 50-day moving average of $8.46 and a two-hundred day moving average of $14.62. ProShares UltraShort Bloomberg Crude Oil has a fifty-two week low of $6.09 and a fifty-two week high of $21.47.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

Several large investors have recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC acquired a new position in ProShares UltraShort Bloomberg Crude Oil in the 1st quarter valued at approximately $30,000. Marks Group Wealth Management Inc acquired a new position in ProShares UltraShort Bloomberg Crude Oil in the 1st quarter valued at approximately $528,000. Bank of New York Mellon Corp acquired a new position in ProShares UltraShort Bloomberg Crude Oil in the 1st quarter valued at approximately $832,000. IMC Chicago LLC raised its holdings in ProShares UltraShort Bloomberg Crude Oil by 156.1% in the 1st quarter. IMC Chicago LLC now owns 47,102 shares of the exchange traded fund’s stock valued at $392,000 after acquiring an additional 28,710 shares in the last quarter. Finally, Nicholson Wealth Management Group LLC acquired a new position in ProShares UltraShort Bloomberg Crude Oil in the 1st quarter valued at approximately $175,000.

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.