ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report) shares gapped up prior to trading on Monday. The stock had previously closed at $15.65, but opened at $16.78. ProShares UltraShort Bloomberg Crude Oil shares last traded at $16.94, with a volume of 3,101,695 shares trading hands.
ProShares UltraShort Bloomberg Crude Oil Stock Up 8.3%
The company’s 50 day simple moving average is $19.87 and its 200 day simple moving average is $33.20.
Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil
Several hedge funds have recently modified their holdings of SCO. Talon Private Wealth LLC purchased a new position in ProShares UltraShort Bloomberg Crude Oil in the first quarter worth $8,517,000. Spectrum Financial Alliance Ltd LLC purchased a new stake in ProShares UltraShort Bloomberg Crude Oil during the first quarter worth $5,611,000. Group One Trading LLC raised its stake in shares of ProShares UltraShort Bloomberg Crude Oil by 607.7% during the 1st quarter. Group One Trading LLC now owns 223,321 shares of the exchange traded fund’s stock worth $1,858,000 after buying an additional 191,767 shares during the last quarter. Integrated Investment Consultants LLC purchased a new position in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at about $946,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth approximately $832,000.
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.
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