ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Sees Significant Growth in Short Interest

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 470,400 shares, a growth of 182.6% from the February 12th total of 166,462 shares. Based on an average trading volume of 2,430,058 shares, the days-to-cover ratio is currently 0.2 days. Currently, 6.2% of the shares of the company are short sold. Currently, 6.2% of the shares of the company are short sold. Based on an average trading volume of 2,430,058 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

A number of large investors have recently bought and sold shares of the company. Jump Financial LLC acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter worth $3,076,000. Quadrature Capital Ltd purchased a new position in ProShares UltraShort Bloomberg Crude Oil during the third quarter worth about $1,844,000. Corigliano Investment Advisers LLC acquired a new stake in ProShares UltraShort Bloomberg Crude Oil in the fourth quarter valued at about $941,000. Tower Research Capital LLC TRC lifted its position in ProShares UltraShort Bloomberg Crude Oil by 237.5% in the second quarter. Tower Research Capital LLC TRC now owns 64,182 shares of the exchange traded fund’s stock valued at $1,159,000 after purchasing an additional 45,164 shares during the period. Finally, Flow Traders U.S. LLC purchased a new stake in ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at approximately $563,000.

ProShares UltraShort Bloomberg Crude Oil Trading Down 1.2%

Shares of NYSEARCA:SCO traded down $0.10 during trading on Friday, reaching $8.51. The company had a trading volume of 31,762,180 shares, compared to its average volume of 9,356,610. ProShares UltraShort Bloomberg Crude Oil has a fifty-two week low of $8.40 and a fifty-two week high of $24.51. The stock’s fifty day moving average price is $15.44 and its 200 day moving average price is $17.34.

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.