ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Share Price Cross Above 200 Day Moving Average – What’s Next?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.78 and traded as high as $20.06. ProShares UltraShort Bloomberg Crude Oil shares last traded at $19.90, with a volume of 1,485,124 shares.

ProShares UltraShort Bloomberg Crude Oil Stock Up 4.2%

The business has a fifty day moving average of $18.88 and a two-hundred day moving average of $17.78.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the 3rd quarter worth $61,000. Raymond James Financial Inc. acquired a new stake in ProShares UltraShort Bloomberg Crude Oil in the second quarter valued at approximately $70,000. XTX Topco Ltd purchased a new position in ProShares UltraShort Bloomberg Crude Oil in the second quarter valued at $235,000. EverSource Wealth Advisors LLC acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter worth about $271,000. Finally, Group One Trading LLC boosted its holdings 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 valued at $1,014,000 after buying an additional 21,999 shares in the last quarter.

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.