ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report) saw a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 1,471,462 shares, a decrease of 75.4% from the May 31st total of 5,986,244 shares. Based on an average daily volume of 10,069,730 shares, the short-interest ratio is presently 0.1 days. Currently, 3.7% of the shares of the stock are sold short.
Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil
Several large investors have recently made changes to their positions in the company. Jump Financial LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter valued at about $3,076,000. Raymond James Financial Inc. bought a new position in ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at $70,000. Group One Trading LLC lifted its stake in shares of ProShares UltraShort Bloomberg Crude Oil by 64.4% during the second quarter. Group One Trading LLC now owns 56,155 shares of the exchange traded fund’s stock valued at $1,014,000 after acquiring an additional 21,999 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of ProShares UltraShort Bloomberg Crude Oil by 237.5% during 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 acquiring an additional 45,164 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in ProShares UltraShort Bloomberg Crude Oil in the third quarter valued at about $61,000.
ProShares UltraShort Bloomberg Crude Oil Price Performance
Shares of SCO opened at $35.60 on Friday. ProShares UltraShort Bloomberg Crude Oil has a 1 year low of $22.84 and a 1 year high of $84.14. The stock has a 50 day simple moving average of $28.03 and a 200-day simple moving average of $47.59.
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.
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