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

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $8.47, but opened at $8.09. ProShares UltraShort Bloomberg Crude Oil shares last traded at $8.06, with a volume of 11,170,974 shares traded.

ProShares UltraShort Bloomberg Crude Oil Trading Down 6.5%

The firm has a fifty day simple moving average of $10.74 and a 200-day simple moving average of $15.77.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

Several institutional investors and hedge funds have recently made changes to their positions in SCO. Brookstone Capital Management bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at $8,930,000. Jump Financial LLC bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter valued at $3,076,000. Quadrature Capital Ltd bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 3rd quarter valued at $1,844,000. Corigliano Investment Advisers LLC bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 4th quarter valued at $941,000. Finally, Tower Research Capital LLC TRC raised its position in shares of ProShares UltraShort Bloomberg Crude Oil by 237.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 64,182 shares of the exchange traded fund’s stock valued at $1,159,000 after acquiring an additional 45,164 shares during the last quarter.

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.