ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 640,902 shares, a growth of 109.7% from the December 31st total of 305,611 shares. Approximately 10.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,312,179 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 2,312,179 shares, the days-to-cover ratio is currently 0.3 days. Approximately 10.8% of the shares of the stock are short sold.
ProShares UltraShort Bloomberg Crude Oil Price Performance
NYSEARCA SCO opened at $15.36 on Friday. The stock has a fifty day moving average of $18.76 and a 200-day moving average of $18.01. ProShares UltraShort Bloomberg Crude Oil has a 52 week low of $14.57 and a 52 week high of $24.51.
Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil
A number of hedge funds have recently modified their holdings of SCO. XTX Topco Ltd bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter worth approximately $235,000. EverSource Wealth Advisors LLC acquired a new position in ProShares UltraShort Bloomberg Crude Oil during the second quarter worth $271,000. Flow Traders U.S. LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the second quarter worth $563,000. Jump Financial LLC acquired a new stake in ProShares UltraShort Bloomberg Crude Oil in the second quarter valued at $3,076,000. Finally, Raymond James Financial Inc. bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at about $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.
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