Short Interest in ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Grows By 1,432.4%

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 7,208,206 shares, a growth of 1,432.4% from the February 26th total of 470,400 shares. Currently, 95.3% of the shares of the stock are sold short. Based on an average trading volume of 37,663,726 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 37,663,726 shares, the short-interest ratio is currently 0.2 days. Currently, 95.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

A number of institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the second quarter valued at $235,000. EverSource Wealth Advisors LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter worth about $271,000. Flow Traders U.S. LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter worth about $563,000. Jump Financial LLC purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at about $3,076,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at about $70,000.

ProShares UltraShort Bloomberg Crude Oil Trading Down 6.3%

NYSEARCA SCO opened at $8.21 on Wednesday. The company’s 50 day simple moving average is $13.94 and its two-hundred day simple moving average is $16.91. 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.