Investors Purchase High Volume of Call Options on ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the target of some unusual options trading activity on Wednesday. Traders bought 16,859 call options on the company. This is an increase of approximately 88% compared to the average volume of 8,981 call options.

ProShares UltraShort Bloomberg Crude Oil Price Performance

NYSEARCA SCO opened at $8.10 on Thursday. The company’s 50-day simple moving average is $11.85 and its two-hundred day simple moving average is $16.22. ProShares UltraShort Bloomberg Crude Oil has a one year low of $7.56 and a one year high of $24.51.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jump Financial LLC purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter worth approximately $3,076,000. Quadrature Capital Ltd purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the 3rd quarter worth approximately $1,844,000. Tower Research Capital LLC TRC grew 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 buying an additional 45,164 shares during the last quarter. Group One Trading LLC grew 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 buying an additional 21,999 shares during the last quarter. Finally, Corigliano Investment Advisers LLC purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the 4th quarter worth approximately $941,000.

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.