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

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 7,208,206 shares, an increase of 1,432.4% from the February 26th total of 470,400 shares. Based on an average daily trading volume, of 37,663,726 shares, the days-to-cover ratio is currently 0.2 days. Currently, 95.3% of the company’s shares are sold short. Currently, 95.3% of the company’s shares are sold short. Based on an average daily trading volume, of 37,663,726 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

Several large investors have recently added to or reduced their stakes in SCO. Corigliano Investment Advisers LLC purchased a new stake in ProShares UltraShort Bloomberg Crude Oil during the 4th quarter worth $941,000. Jump Financial LLC purchased a new position in ProShares UltraShort Bloomberg Crude Oil in the 4th quarter valued at about $2,526,000. Tower Research Capital LLC TRC grew its stake in shares of ProShares UltraShort Bloomberg Crude Oil by 33.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 52,266 shares of the exchange traded fund’s stock valued at $1,025,000 after acquiring an additional 13,212 shares in the last quarter. Group One Trading LLC grew its stake in shares of ProShares UltraShort Bloomberg Crude Oil by 99.5% during the fourth quarter. Group One Trading LLC now owns 31,554 shares of the exchange traded fund’s stock valued at $619,000 after acquiring an additional 15,738 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the third quarter worth about $61,000.

ProShares UltraShort Bloomberg Crude Oil Price Performance

Shares of ProShares UltraShort Bloomberg Crude Oil stock traded down $0.55 during trading hours on Tuesday, hitting $8.21. The company’s stock had a trading volume of 41,559,419 shares, compared to its average volume of 14,069,948. The business has a fifty day moving average of $13.94 and a 200 day moving average of $16.91. ProShares UltraShort Bloomberg Crude Oil has a 1-year low of $7.68 and a 1-year high of $24.51.

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.