ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Gap Up – What’s Next?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)’s share price gapped up before the market opened on Monday. The stock had previously closed at $15.65, but opened at $16.78. ProShares UltraShort Bloomberg Crude Oil shares last traded at $16.94, with a volume of 3,101,695 shares trading hands.

ProShares UltraShort Bloomberg Crude Oil Stock Performance

The business has a fifty day moving average of $19.59 and a 200-day moving average of $32.66.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

A number of large investors have recently made changes to their positions in the business. Talon Private Wealth LLC acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the first quarter worth $8,517,000. Spectrum Financial Alliance Ltd LLC acquired a new stake in ProShares UltraShort Bloomberg Crude Oil during the first quarter worth about $5,611,000. Group One Trading LLC raised its holdings in ProShares UltraShort Bloomberg Crude Oil by 607.7% in the 1st quarter. Group One Trading LLC now owns 223,321 shares of the exchange traded fund’s stock valued at $1,858,000 after buying an additional 191,767 shares during the period. Integrated Investment Consultants LLC purchased a new position in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at about $946,000. Finally, Bank of New York Mellon Corp purchased a new position in ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at $832,000.

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.