ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report) was the target of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 5,986,244 shares, a decline of 55.0% from the May 14th total of 13,308,766 shares. Based on an average daily volume of 15,971,422 shares, the short-interest ratio is presently 0.4 days. Approximately 14.9% of the company’s shares are sold short.
ProShares UltraShort Bloomberg Crude Oil Stock Up 5.5%
Shares of ProShares UltraShort Bloomberg Crude Oil stock traded up $1.45 during trading on Friday, reaching $28.03. 10,972,537 shares of the company were exchanged, compared to its average volume of 8,476,045. ProShares UltraShort Bloomberg Crude Oil has a twelve month low of $22.84 and a twelve month high of $84.14. The business has a 50-day moving average price of $27.88 and a 200-day moving average price of $50.40.
Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil
A number of institutional investors have recently made changes to their positions in the stock. Brookstone Capital Management bought a new position in ProShares UltraShort Bloomberg Crude Oil during the first quarter worth about $8,930,000. Talon Private Wealth LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil during the first quarter worth about $8,517,000. Spectrum Financial Alliance Ltd LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil during the first quarter worth about $5,611,000. Group One Trading LLC lifted its holdings in ProShares UltraShort Bloomberg Crude Oil by 607.7% during the first quarter. Group One Trading LLC now owns 223,321 shares of the exchange traded fund’s stock worth $1,858,000 after acquiring an additional 191,767 shares in the last quarter. Finally, Jump Financial LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil during the second quarter worth about $3,076,000.
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.
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