ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Short Interest Update

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) saw a large growth in short interest during the month of April. As of April 30th, there was short interest totaling 15,171,259 shares, a growth of 1,766.7% from the April 15th total of 812,736 shares. Based on an average trading volume of 51,020,687 shares, the short-interest ratio is presently 0.3 days. Approximately 9.4% of the shares of the stock are sold short.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

A number of hedge funds have recently modified their holdings of SCO. Cassaday & Co Wealth Management LLC purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at $30,000. JPMorgan Chase & Co. purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the third quarter valued at $61,000. Raymond James Financial Inc. purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the second quarter valued at $70,000. Simplicity Wealth LLC purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at $91,000. Finally, Nicholson Wealth Management Group LLC purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at $175,000.

ProShares UltraShort Bloomberg Crude Oil Stock Performance

SCO opened at $6.41 on Tuesday. The stock has a fifty day moving average of $8.46 and a 200-day moving average of $14.62. ProShares UltraShort Bloomberg Crude Oil has a 12-month low of $6.09 and a 12-month high of $21.47.

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.