ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Pass Above 200 Day Moving Average – Here’s Why

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.76 and traded as high as $19.25. ProShares UltraShort Bloomberg Crude Oil shares last traded at $19.13, with a volume of 640,441 shares traded.

ProShares UltraShort Bloomberg Crude Oil Stock Performance

The business’s 50 day moving average price is $18.56 and its two-hundred day moving average price is $17.76.

Institutional Investors 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 purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter worth about $3,076,000. Quadrature Capital Ltd purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the third quarter valued at approximately $1,844,000. Tower Research Capital LLC TRC boosted its position in shares of ProShares UltraShort Bloomberg Crude Oil by 237.5% in 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 purchasing an additional 45,164 shares in the last quarter. Group One Trading LLC boosted its position in shares of ProShares UltraShort Bloomberg Crude Oil by 64.4% in the 2nd quarter. Group One Trading LLC now owns 56,155 shares of the exchange traded fund’s stock worth $1,014,000 after purchasing an additional 21,999 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter worth approximately $70,000.

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.