ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Cross Above 200-Day Moving Average of $16.82

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.82 and traded as high as $18.06. ProShares UltraShort Bloomberg Crude Oil shares last traded at $17.66, with a volume of 1,901,549 shares trading hands.

ProShares UltraShort Bloomberg Crude Oil Trading Down 1.7 %

The business has a fifty day moving average price of $16.44 and a 200 day moving average price of $16.80.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

An institutional investor recently raised its position in ProShares UltraShort Bloomberg Crude Oil stock. IMC Chicago LLC boosted its stake in ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) by 287.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,776 shares of the exchange traded fund’s stock after purchasing an additional 74,044 shares during the period. IMC Chicago LLC owned approximately 0.88% of ProShares UltraShort Bloomberg Crude Oil worth $1,598,000 at the end of the most recent reporting period.

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.