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 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.14 and traded as high as $18.56. ProShares UltraShort Bloomberg Crude Oil shares last traded at $17.84, with a volume of 1,650,168 shares traded.

ProShares UltraShort Bloomberg Crude Oil Stock Performance

The stock’s 50 day simple moving average is $18.41 and its 200 day simple moving average is $17.17.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

A hedge fund recently raised its stake in ProShares UltraShort Bloomberg Crude Oil stock. First National Corp MA ADV increased its holdings in shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) by 51.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 229,358 shares of the exchange traded fund’s stock after acquiring an additional 77,631 shares during the quarter. First National Corp MA ADV owned approximately 1.89% of ProShares UltraShort Bloomberg Crude Oil worth $3,571,000 as of its most recent SEC filing.

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.