ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Hits New 1-Year High – Should You Buy?

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) hit a new 52-week high on Monday. The stock traded as high as $64.25 and last traded at $64.10, with a volume of 1,064,564 shares. The stock had previously closed at $63.59.

ProShares Ultra Bloomberg Crude Oil Trading Up 1.0%

The stock has a 50 day moving average of $49.96 and a 200-day moving average of $44.31.

Institutional Trading of ProShares Ultra Bloomberg Crude Oil

Hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new position in ProShares Ultra Bloomberg Crude Oil in the 2nd quarter worth about $38,000. Royal Bank of Canada lifted its holdings in ProShares Ultra Bloomberg Crude Oil by 48.8% during the 1st quarter. Royal Bank of Canada now owns 1,000 shares of the exchange traded fund’s stock valued at $39,000 after buying an additional 328 shares in the last quarter. WT Wealth Management bought a new stake in ProShares Ultra Bloomberg Crude Oil during the 1st quarter valued at about $289,000. Finally, Corient Private Wealth LLC bought a new stake in ProShares Ultra Bloomberg Crude Oil during the 4th quarter valued at about $859,000.

About ProShares Ultra Bloomberg Crude Oil

ProShares Ultra DJ-UBS Crude Oil seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones UBS Crude Oil Sub-Index. The Dow Jones-UBS Crude Oil Sub-Index is intended to reflect the performance of crude oil as measured by the price of futures contracts of sweet, light crude oil traded on the New York Mercantile Exchange (the NYMEX), including roll costs, without regard to income earned on cash positions.