ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Stock Price Down 7.3% – What’s Next?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) shares were down 7.3% during trading on Monday . The stock traded as low as $6.14 and last traded at $6.22. Approximately 41,253,568 shares traded hands during mid-day trading, an increase of 57% from the average daily volume of 26,295,094 shares. The stock had previously closed at $6.71.

ProShares UltraShort Bloomberg Crude Oil Trading Down 8.0%

The stock has a 50-day moving average of $9.24 and a 200 day moving average of $15.07.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jump Financial LLC bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the second quarter valued at about $3,076,000. Raymond James Financial Inc. acquired a new stake in ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at about $70,000. Group One Trading LLC raised its stake in shares of ProShares UltraShort Bloomberg Crude Oil by 64.4% in the second 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 raised its stake in shares of ProShares UltraShort Bloomberg Crude Oil by 237.5% in the second 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. acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the third quarter worth approximately $61,000.

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.