ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Scheduled to Reverse Split on Thursday, May 28th

Shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) are scheduled to reverse split before the market opens on Thursday, May 28th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, May 27th.

ProShares UltraShort Bloomberg Crude Oil Stock Performance

Shares of NYSEARCA SCO traded down $0.30 during midday trading on Tuesday, hitting $6.11. 54,621,211 shares of the company’s stock were exchanged, compared to its average volume of 29,649,354. ProShares UltraShort Bloomberg Crude Oil has a 12 month low of $6.06 and a 12 month high of $21.47. The company’s 50 day moving average price is $8.46 and its 200 day moving average price is $14.62.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCO. Jump Financial LLC acquired a new position in ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at $3,076,000. Raymond James Financial Inc. acquired a new position in ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at $70,000. Group One Trading LLC raised its holdings in shares of ProShares UltraShort Bloomberg Crude Oil by 64.4% during the 2nd quarter. Group One Trading LLC now owns 56,155 shares of the exchange traded fund’s stock worth $1,014,000 after buying an additional 21,999 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of 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 worth $1,159,000 after buying an additional 45,164 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the 3rd quarter worth $61,000.

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.