ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Sets New 52-Week Low – Here’s Why

Shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) hit a new 52-week low on Thursday . The stock traded as low as $7.35 and last traded at $7.41, with a volume of 5445985 shares traded. The stock had previously closed at $7.54.

ProShares UltraShort Bloomberg Crude Oil Stock Down 1.7%

The business’s 50 day moving average is $10.29 and its 200-day moving average is $15.57.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

A number of institutional investors have recently made changes to their positions in SCO. Brookstone Capital Management purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the first quarter worth $8,930,000. Jump Financial LLC acquired a new stake in ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at about $3,076,000. Quadrature Capital Ltd purchased a new position in ProShares UltraShort Bloomberg Crude Oil in the 3rd quarter worth approximately $1,844,000. Corigliano Investment Advisers LLC acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the 4th quarter worth approximately $941,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of 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 last quarter.

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.