ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Reaches New 1-Year Low – Here’s What Happened

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.08 and last traded at $6.10, with a volume of 7233549 shares traded. The stock had previously closed at $6.41.

ProShares UltraShort Bloomberg Crude Oil Trading Down 4.7%

The business’s 50-day moving average is $8.46 and its 200-day moving average is $14.62.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SCO. Brookstone Capital Management bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter worth about $8,930,000. Spectrum Financial Alliance Ltd LLC acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the first quarter valued at $5,611,000. Jump Financial LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil in the second quarter valued at about $3,076,000. Quadrature Capital Ltd bought a new position in ProShares UltraShort Bloomberg Crude Oil in the third quarter valued at about $1,844,000. Finally, Bank of New York Mellon Corp acquired a new stake in ProShares UltraShort Bloomberg Crude Oil in the first quarter worth about $832,000.

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.