ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Short Interest Down 32.7% in August

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the recipient of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 1,252,169 shares, a decrease of 32.7% from the July 30th total of 1,859,987 shares. Based on an average trading volume of 3,944,676 shares, the days-to-cover ratio is currently 0.3 days. Currently, 5.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

Several large investors have recently made changes to their positions in SCO. Jump Financial LLC purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the second quarter worth about $3,076,000. Raymond James Financial Inc. purchased a new position in ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter valued at approximately $70,000. Group One Trading LLC increased its stake in ProShares UltraShort Bloomberg Crude Oil by 64.4% in the 2nd quarter. Group One Trading LLC now owns 56,155 shares of the exchange traded fund’s stock worth $1,014,000 after acquiring an additional 21,999 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in ProShares UltraShort Bloomberg Crude Oil by 237.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 64,182 shares of the exchange traded fund’s stock worth $1,159,000 after acquiring an additional 45,164 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 3rd quarter worth approximately $61,000.

ProShares UltraShort Bloomberg Crude Oil Stock Performance

NYSEARCA SCO traded down $1.47 on Tuesday, reaching $22.50. The company had a trading volume of 10,250,622 shares, compared to its average volume of 7,226,727. ProShares UltraShort Bloomberg Crude Oil has a 12 month low of $22.45 and a 12 month high of $84.14. The firm’s 50 day moving average price is $28.89 and its 200 day moving average price is $32.88.

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.