ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Sees Significant Growth in Short Interest

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 470,400 shares, a growth of 182.6% from the February 12th total of 166,462 shares. Currently, 6.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,430,058 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 2,430,058 shares, the days-to-cover ratio is presently 0.2 days. Currently, 6.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

A number of institutional investors and hedge funds have recently made changes to their positions in SCO. JPMorgan Chase & Co. acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the third quarter valued at about $61,000. Raymond James Financial Inc. purchased a new position in ProShares UltraShort Bloomberg Crude Oil in the second quarter valued at about $70,000. XTX Topco Ltd purchased a new position in ProShares UltraShort Bloomberg Crude Oil in the second quarter valued at about $235,000. EverSource Wealth Advisors LLC acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter valued at approximately $271,000. Finally, Flow Traders U.S. LLC purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter worth approximately $563,000.

ProShares UltraShort Bloomberg Crude Oil Stock Down 4.8%

Shares of ProShares UltraShort Bloomberg Crude Oil stock traded down $0.49 during trading on Wednesday, reaching $9.65. The company’s stock had a trading volume of 31,151,731 shares, compared to its average volume of 7,740,053. The business has a 50 day moving average price of $16.08 and a 200-day moving average price of $17.51. ProShares UltraShort Bloomberg Crude Oil has a 12-month low of $9.00 and a 12-month high of $24.51.

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.