ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Sees Large Decline in Short Interest

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) saw a significant decrease in short interest in the month of February. As of February 13th, there was short interest totaling 166,462 shares, a decrease of 73.1% from the January 29th total of 618,761 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average trading volume of 2,175,306 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 2,175,306 shares, the short-interest ratio is presently 0.1 days. Currently, 2.2% of the company’s shares are short sold.

Institutional Inflows and Outflows

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

ProShares UltraShort Bloomberg Crude Oil Price Performance

NYSEARCA:SCO traded up $0.06 on Thursday, reaching $14.76. The company’s stock had a trading volume of 3,926,697 shares, compared to its average volume of 2,118,052. ProShares UltraShort Bloomberg Crude Oil has a 12-month low of $14.15 and a 12-month high of $24.51. The stock has a 50 day moving average price of $17.41 and a 200 day moving average price of $17.86.

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.