ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Sets New 12-Month High – Should You Buy?

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $38.56 and last traded at $38.06, with a volume of 13664093 shares trading hands. The stock had previously closed at $33.58.

More ProShares Ultra Bloomberg Crude Oil News

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

• Positive Sentiment: Reports that U.S. WTI rose sharply as Gulf supplies remain constrained — a direct bullish catalyst for UCO’s leveraged exposure to crude. US oil prices up nearly $3 as Middle East crisis constrains supply
• Positive Sentiment: Bloomberg/Reuters reporting that major Middle East producers have cut output (Saudi ~2–2.5M b/d, UAE 0.5–0.8M b/d) — tighter physical supply supports higher crude and helps leveraged oil ETFs like UCO. Middle East countries cut daily oil output, Bloomberg News reports
• Positive Sentiment: The U.S. EIA projects Brent prices to remain above ~$95/bbl for the next two months — a near-term structural support for oil and for UCO’s performance. Brent oil prices to remain above $95/bbl over next 2 months, EIA says
• Neutral Sentiment: Saudi shipments via the Red Sea are at record highs in March, providing partial routing relief — helpful to flows but still short of offsetting Hormuz disruptions. Saudi Red Sea oil exports to hit record high in March, shipping data shows
• Neutral Sentiment: Technical/forecast note: analysts flag short?term resistance after a volatile rally and point to key moving?average supports — underscores risk of quick reversals for leveraged products. Crude Oil Price Forecast: Key Support Levels Tested After Rally
• Negative Sentiment: Policy and coordination signals (G7/IEA talks, and U.S. moves such as waiving some sanctions) raise the chance of reserve releases or increased supply access — these actions can cap upside in crude and weigh on UCO. IEA countries to meet later Tuesday on release of oil reserves, but no decision made yet
• Negative Sentiment: ProShares UCO saw a large (?90%) jump in short interest in late February (about 9.0% of float sold short). That elevated short positioning can add downward pressure, though it also raises the risk of quick squeezes during rallies.

ProShares Ultra Bloomberg Crude Oil Stock Performance

The business has a fifty day moving average of $23.37 and a 200 day moving average of $22.02.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Crude Oil

Several institutional investors and hedge funds have recently modified their holdings of the stock. Luminist Capital LLC bought a new stake in shares of ProShares Ultra Bloomberg Crude Oil during the 2nd quarter valued at about $30,000. Corsicana & Co. bought a new position in ProShares Ultra Bloomberg Crude Oil in the third quarter worth about $45,000. Spire Wealth Management raised its stake in ProShares Ultra Bloomberg Crude Oil by 15.5% in the third quarter. Spire Wealth Management now owns 6,702 shares of the exchange traded fund’s stock worth $151,000 after buying an additional 900 shares in the last quarter. Connective Capital Management LLC purchased a new stake in ProShares Ultra Bloomberg Crude Oil in the third quarter worth about $159,000. Finally, JPMorgan Chase & Co. purchased a new stake in ProShares Ultra Bloomberg Crude Oil in the third quarter worth about $191,000.

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.