ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Reaches New 1-Year Low – Here’s What Happened

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) reached a new 52-week low during trading on Tuesday . The company traded as low as $21.75 and last traded at $21.83, with a volume of 1662561 shares. The stock had previously closed at $22.44.

ProShares UltraShort Bloomberg Crude Oil Price Performance

The business has a 50 day moving average price of $27.69 and a two-hundred day moving average price of $31.42.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at $144,000. Integrated Investment Consultants LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil in the first quarter worth about $946,000. Arkadios Wealth Advisors bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth approximately $108,000. Talon Private Wealth LLC purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the first quarter valued at $8,517,000. Finally, Waverly Advisors LLC purchased a new stake in ProShares UltraShort Bloomberg Crude Oil in the 1st quarter valued at about $83,000.

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.