ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report) was the recipient of a significant growth in short interest in 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 daily volume of 51,020,687 shares, the days-to-cover ratio is presently 0.3 days. Currently, 9.4% of the company’s stock are sold short.
Institutional Trading of ProShares UltraShort Bloomberg Crude Oil
Large investors have recently made changes to their positions in the stock. Cassaday & Co Wealth Management LLC bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth about $30,000. JPMorgan Chase & Co. bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 3rd quarter worth about $61,000. Raymond James Financial Inc. bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter worth about $70,000. Simplicity Wealth LLC bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth about $91,000. Finally, Nicholson Wealth Management Group LLC bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth about $175,000.
ProShares UltraShort Bloomberg Crude Oil Stock Performance
NYSEARCA SCO traded down $0.50 on Monday, reaching $6.41. The stock had a trading volume of 57,063,107 shares, compared to its average volume of 29,362,848. The business has a 50 day moving average price of $8.46 and a 200 day moving average price of $14.62. ProShares UltraShort Bloomberg Crude Oil has a 1 year low of $6.09 and a 1 year high of $21.47.
About ProShares UltraShort Bloomberg Crude Oil
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.
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