ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Stock Price Pass Above 200-Day Moving Average – Should You Sell?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.02 and traded as high as $18.02. ProShares UltraShort Bloomberg Crude Oil shares last traded at $17.75, with a volume of 841,095 shares changing hands.

ProShares UltraShort Bloomberg Crude Oil Price Performance

The company has a 50-day moving average price of $18.33 and a 200 day moving average price of $17.03.

Institutional Investors 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 grew its position in shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) by 287.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & 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.