ProShares K-1 Free Crude Oil ETF (BATS:OILK) Stock Price Down 3.3% – Here’s Why

ProShares K-1 Free Crude Oil ETF (BATS:OILK)’s share price dropped 3.3% during trading on Thursday. The company traded as low as $55.01 and last traded at $56.04. Approximately 85,247 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 207,012 shares. The stock had previously closed at $57.98.

ProShares K-1 Free Crude Oil ETF Stock Down 0.3%

The company has a market cap of $98.35 million, a P/E ratio of 30.33 and a beta of 0.50. The firm has a fifty day moving average price of $54.25 and a 200 day moving average price of $54.12.

Institutional Investors Weigh In On ProShares K-1 Free Crude Oil ETF

A number of hedge funds have recently added to or reduced their stakes in OILK. Integrated Wealth Concepts LLC bought a new position in shares of ProShares K-1 Free Crude Oil ETF in the second quarter worth about $57,000. Signet Private Wealth LLC bought a new stake in shares of ProShares K-1 Free Crude Oil ETF during the first quarter valued at approximately $237,000. NewEdge Advisors LLC acquired a new stake in shares of ProShares K-1 Free Crude Oil ETF in the first quarter valued at approximately $287,000. Sanctuary Advisors LLC acquired a new stake in shares of ProShares K-1 Free Crude Oil ETF in the first quarter valued at approximately $333,000. Finally, Group One Trading LLC raised its position in ProShares K-1 Free Crude Oil ETF by 7,826.0% in the 1st quarter. Group One Trading LLC now owns 7,926 shares of the company’s stock worth $429,000 after purchasing an additional 7,826 shares during the last quarter.

About ProShares K-1 Free Crude Oil ETF

The ProShares K-1 Free Crude Oil Strategy ETF (OILK) is an exchange-traded fund that mostly invests in crude oil commodities. The fund tracks an index holding three separate contracts at equal-weighting with different roll schedules. OILK was launched on Sep 26, 2016 and is managed by ProShares.