ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Gap Up – What’s Next?

Shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) gapped up before the market opened on Monday . The stock had previously closed at $27.15, but opened at $29.10. ProShares UltraShort Bloomberg Crude Oil shares last traded at $29.31, with a volume of 1,231,412 shares traded.

ProShares UltraShort Bloomberg Crude Oil Stock Up 6.5%

The stock has a 50 day moving average of $29.53 and a two-hundred day moving average of $38.96.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brookstone Capital Management purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth $8,930,000. Talon Private Wealth LLC acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth $8,517,000. Spectrum Financial Alliance Ltd LLC purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the 1st quarter valued at about $5,611,000. Group One Trading LLC increased its holdings in shares of ProShares UltraShort Bloomberg Crude Oil by 607.7% in the 1st quarter. Group One Trading LLC now owns 223,321 shares of the exchange traded fund’s stock valued at $1,858,000 after purchasing an additional 191,767 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at about $3,076,000.

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.