Stock Traders Buy Large Volume of Call Options on ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the recipient of unusually large options trading activity on Monday. Investors acquired 19,778 call options on the company. This is an increase of 295% compared to the typical volume of 5,002 call options.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

A number of hedge funds and other institutional investors have recently bought and sold shares of SCO. JPMorgan Chase & Co. acquired a new position in ProShares UltraShort Bloomberg Crude Oil during the 3rd quarter worth approximately $61,000. Raymond James Financial Inc. acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the second quarter valued at approximately $70,000. XTX Topco Ltd bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the second quarter worth $235,000. EverSource Wealth Advisors LLC bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the second quarter worth $271,000. Finally, Flow Traders U.S. LLC acquired a new position in ProShares UltraShort Bloomberg Crude Oil during the second quarter worth $563,000.

ProShares UltraShort Bloomberg Crude Oil Price Performance

SCO opened at $8.76 on Tuesday. The business’s 50-day moving average price is $14.13 and its two-hundred day moving average price is $16.98. ProShares UltraShort Bloomberg Crude Oil has a 1 year low of $7.68 and a 1 year high of $24.51.

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.