ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Short Interest Update

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 1,471,462 shares, a decrease of 75.4% from the May 31st total of 5,986,244 shares. Currently, 3.7% of the company’s shares are short sold. Based on an average trading volume of 10,069,730 shares, the days-to-cover ratio is currently 0.1 days.

ProShares UltraShort Bloomberg Crude Oil Trading Up 5.4%

Shares of NYSEARCA:SCO opened at $35.60 on Friday. The firm’s 50 day simple moving average is $28.03 and its 200 day simple moving average is $47.59. ProShares UltraShort Bloomberg Crude Oil has a fifty-two week low of $22.84 and a fifty-two week high of $84.14.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

Hedge funds have recently bought and sold shares of the company. Brookstone Capital Management acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the 1st quarter valued at $8,930,000. Talon Private Wealth LLC acquired a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth $8,517,000. Spectrum Financial Alliance Ltd LLC acquired a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth $5,611,000. Group One Trading LLC lifted its holdings in ProShares UltraShort Bloomberg Crude Oil by 607.7% during the first quarter. Group One Trading LLC now owns 223,321 shares of the exchange traded fund’s stock worth $1,858,000 after acquiring an additional 191,767 shares in the last quarter. Finally, Jump Financial LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil during the second quarter worth about $3,076,000.

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.