ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Trading 4.5% Higher – Should You Buy?

Shares of ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) rose 4.5% on Friday . The stock traded as high as $43.70 and last traded at $43.67. Approximately 8,426,153 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 8,316,720 shares. The stock had previously closed at $41.80.

ProShares Ultra Bloomberg Crude Oil News Summary

Here are the key news stories impacting ProShares Ultra Bloomberg Crude Oil this week:

• Positive Sentiment: UBS raised near-term oil forecasts after the Middle East conflict escalated, lifting its Brent outlook to $86/bbl in 2026 (up $14) and $80/bbl in 2027 (up $10) — a direct bullish signal for oil-linked long ETFs like UCO. UBS raises oil price forecasts at Middle East conflict escalates
• Positive Sentiment: Iran rejected negotiations over reopening the Strait of Hormuz, keeping a key transit route closed and sustaining supply risk — a near-term bullish factor for crude and thus UCO. Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Iran Rejects Negotiations On The Strait Of Hormuz
• Positive Sentiment: Prediction?market traders are pricing a ~65% chance crude stays above $100/bbl by month?end, signalling market expectations for sustained high prices — supportive for UCO’s leveraged exposure. Traders give 65% odds of oil holding above $100 a barrel to end of March
• Neutral Sentiment: Baker Hughes reported a small drop in U.S. oil and gas rigs this week — modest near?term supply tightening that can support prices but is not a major structural change. US drillers cut oil and gas rigs for first time in three weeks, says Baker Hughes
• Neutral Sentiment: Large buyer activity and stockpiling moves — e.g., India’s HPCL buying 2m barrels of West African crude and Japan considering U.S. stockpiles — show ongoing demand re?routing and strategic buying that can support prices but also diversify supply. India HPCL buys 2 million barrels of West African oil for early May, sources say
• Negative Sentiment: U.S. officials said removing sanctions on stranded Iranian crude could quickly put barrels into Asian markets — a supply?easing move that would reduce upward pressure on oil and weigh on UCO. Removing sanctions on Iran oil will bring supplies into ports, US energy secretary says
• Negative Sentiment: Signs of calming rhetoric from leaders and reports of oil pulling back from recent highs have reduced some panic buying, which could cap further immediate gains for crude and leveraged longs. Oil Pulls Back from Highs as Leaders Seek to Calm Markets

ProShares Ultra Bloomberg Crude Oil Price Performance

The firm’s 50-day moving average is $26.28 and its 200 day moving average is $22.85.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Crude Oil

A number of hedge funds and other institutional investors have recently made changes to their positions in UCO. Corient Private Wealth LLC acquired a new position in ProShares Ultra Bloomberg Crude Oil in the 4th quarter valued at about $859,000. Quadrature Capital Ltd purchased a new position in shares of ProShares Ultra Bloomberg Crude Oil in the 4th quarter valued at approximately $334,000. Headlands Technologies LLC acquired a new position in shares of ProShares Ultra Bloomberg Crude Oil in the fourth quarter valued at approximately $397,000. Simplex Trading LLC purchased a new stake in shares of ProShares Ultra Bloomberg Crude Oil during the fourth quarter worth approximately $201,000. Finally, Baker Avenue Asset Management LP raised its stake in shares of ProShares Ultra Bloomberg Crude Oil by 52.8% during the fourth quarter. Baker Avenue Asset Management LP now owns 115,750 shares of the exchange traded fund’s stock worth $2,236,000 after purchasing an additional 40,000 shares during the last quarter.

ProShares Ultra Bloomberg Crude Oil Company Profile

ProShares Ultra DJ-UBS Crude Oil seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones UBS Crude Oil Sub-Index. The Dow Jones-UBS Crude Oil Sub-Index is intended to reflect the performance of crude oil as measured by the price of futures contracts of sweet, light crude oil traded on the New York Mercantile Exchange (the NYMEX), including roll costs, without regard to income earned on cash positions.