ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Scheduled to Reverse Split on Thursday, May 28th

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) shares are going to reverse split on Thursday, May 28th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, May 27th.

ProShares UltraShort Bloomberg Crude Oil Price Performance

Shares of ProShares UltraShort Bloomberg Crude Oil stock traded down $0.30 during trading on Tuesday, reaching $6.11. 54,621,211 shares of the company’s stock were exchanged, compared to its average volume of 29,649,354. ProShares UltraShort Bloomberg Crude Oil has a 1-year low of $6.06 and a 1-year high of $21.47. The firm’s 50-day moving average price is $8.46 and its 200 day moving average price is $14.62.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth $30,000. JPMorgan Chase & Co. bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the 3rd quarter worth $61,000. Raymond James Financial Inc. bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter worth $70,000. Simplicity Wealth LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth $91,000. Finally, Nicholson Wealth Management Group LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth $175,000.

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.