ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Share Price Cross Above 200 Day Moving Average – What’s Next?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $18.05 and traded as high as $18.95. ProShares UltraShort Bloomberg Crude Oil shares last traded at $18.91, with a volume of 2,347,864 shares trading hands.

ProShares UltraShort Bloomberg Crude Oil Stock Up 0.1%

The stock’s fifty day simple moving average is $17.95 and its 200 day simple moving average is $18.05.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the third quarter worth $61,000. Raymond James Financial Inc. purchased a new position in ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter worth $70,000. XTX Topco Ltd purchased a new position in ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter worth $235,000. EverSource Wealth Advisors LLC acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the second quarter valued at about $271,000. Finally, Group One Trading LLC increased its stake in ProShares UltraShort Bloomberg Crude Oil by 64.4% during the 2nd quarter. Group One Trading LLC now owns 56,155 shares of the exchange traded fund’s stock valued at $1,014,000 after purchasing an additional 21,999 shares in the last quarter.

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.