ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Short Interest Up 109.7% in January

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the recipient of a significant growth in short interest in 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. Based on an average daily volume of 2,312,179 shares, the days-to-cover ratio is presently 0.3 days. Currently, 10.8% of the company’s stock are sold short. Currently, 10.8% of the company’s stock are sold short. Based on an average daily volume of 2,312,179 shares, the days-to-cover ratio is presently 0.3 days.

ProShares UltraShort Bloomberg Crude Oil Stock Down 0.6%

Shares of SCO traded down $0.09 during midday trading on Friday, reaching $15.36. 462,174 shares of the stock were exchanged, compared to its average volume of 1,888,373. ProShares UltraShort Bloomberg Crude Oil has a 12-month low of $14.57 and a 12-month high of $24.51. The firm has a 50 day simple moving average of $18.84 and a 200-day simple moving average of $18.02.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new stake in ProShares UltraShort Bloomberg Crude Oil in the third quarter worth approximately $61,000. Raymond James Financial Inc. acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at $70,000. XTX Topco Ltd acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at $235,000. EverSource Wealth Advisors LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil in the second quarter worth $271,000. Finally, Flow Traders U.S. LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil in the second quarter worth $563,000.

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.