ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Sees Large Increase in Short Interest

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 2,521,203 shares, a growth of 106.4% from the September 30th total of 1,221,619 shares. Based on an average daily trading volume, of 5,699,392 shares, the short-interest ratio is presently 0.4 days. Currently, 4.8% of the company’s stock are sold short.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

A number of institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the first quarter valued at about $144,000. Integrated Investment Consultants LLC bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at approximately $946,000. Arkadios Wealth Advisors purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the first quarter valued at approximately $108,000. Talon Private Wealth LLC purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the first quarter valued at approximately $8,517,000. Finally, Waverly Advisors LLC purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the first quarter valued at approximately $83,000.

ProShares UltraShort Bloomberg Crude Oil Stock Down 0.6%

NYSEARCA:SCO traded down $0.10 on Friday, hitting $15.65. The stock had a trading volume of 5,652,614 shares, compared to its average volume of 7,062,208. The business’s fifty day moving average is $19.87 and its 200 day moving average is $33.20. ProShares UltraShort Bloomberg Crude Oil has a 52 week low of $15.26 and a 52 week high of $84.14.

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.