ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Shares Gap Down – Time to Sell?

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) shares gapped down before the market opened on Thursday . The stock had previously closed at $31.49, but opened at $30.77. ProShares Ultra Bloomberg Crude Oil shares last traded at $30.77, with a volume of 81,763 shares traded.

ProShares Ultra Bloomberg Crude Oil Trading Down 3.1 %

The stock’s 50-day simple moving average is $26.71 and its 200 day simple moving average is $28.04.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Crude Oil

A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in shares of ProShares Ultra Bloomberg Crude Oil by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 12,890 shares of the exchange traded fund’s stock valued at $328,000 after acquiring an additional 4,323 shares during the period. IHT Wealth Management LLC bought a new stake in ProShares Ultra Bloomberg Crude Oil during the third quarter worth about $376,000. Baker Avenue Asset Management LP bought a new stake in ProShares Ultra Bloomberg Crude Oil during the third quarter worth about $636,000. Farther Finance Advisors LLC bought a new stake in ProShares Ultra Bloomberg Crude Oil during the third quarter worth about $25,000. Finally, X Square Capital LLC bought a new stake in ProShares Ultra Bloomberg Crude Oil during the third quarter worth about $902,000.

ProShares Ultra Bloomberg Crude Oil Company Profile

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.