ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Sees Large Decrease in Short Interest

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) saw a significant drop in short interest in the month of February. As of February 13th, there was short interest totaling 166,462 shares, a drop of 73.1% from the January 29th total of 618,761 shares. Based on an average daily volume of 2,175,306 shares, the days-to-cover ratio is presently 0.1 days. Currently, 2.2% of the company’s stock are sold short. Currently, 2.2% of the company’s stock are sold short. Based on an average daily volume of 2,175,306 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

A number of hedge funds have recently bought and sold shares of SCO. Jump Financial LLC bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the second quarter worth about $3,076,000. Quadrature Capital Ltd acquired a new position in ProShares UltraShort Bloomberg Crude Oil during the 3rd quarter valued at about $1,844,000. Corigliano Investment Advisers LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil in the 4th quarter worth about $941,000. Tower Research Capital LLC TRC increased 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 valued at $1,159,000 after purchasing an additional 45,164 shares during the period. Finally, Flow Traders U.S. LLC acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the second quarter valued at approximately $563,000.

ProShares UltraShort Bloomberg Crude Oil Stock Down 4.5%

Shares of ProShares UltraShort Bloomberg Crude Oil stock traded down $0.66 during trading hours on Friday, hitting $14.10. 2,603,238 shares of the company’s stock traded hands, compared to its average volume of 2,130,646. ProShares UltraShort Bloomberg Crude Oil has a twelve month low of $14.02 and a twelve month high of $24.51. The stock has a 50 day simple moving average of $17.18 and a 200-day simple moving average of $17.82.

ProShares UltraShort Bloomberg Crude Oil Company Profile

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.