ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Scheduled to Reverse Split on Thursday, May 26th

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCOGet Rating) shares are set to reverse split before the market opens on Thursday, May 26th. The 1-5 reverse split was announced on Thursday, May 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, May 26th.

SCO opened at $4.63 on Friday. ProShares UltraShort Bloomberg Crude Oil has a 1-year low of $4.42 and a 1-year high of $23.96. The firm’s 50 day simple moving average is $5.33 and its two-hundred day simple moving average is $9.25.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley increased its stake in shares of ProShares UltraShort Bloomberg Crude Oil by 308.1% in the first quarter. Morgan Stanley now owns 5,305 shares of the exchange traded fund’s stock worth $38,000 after purchasing an additional 4,005 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of ProShares UltraShort Bloomberg Crude Oil by 164.1% in the fourth quarter. JPMorgan Chase & Co. now owns 6,041 shares of the exchange traded fund’s stock worth $77,000 after purchasing an additional 3,754 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter worth $46,000. Cumberland Partners Ltd purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter worth $81,000. Finally, Flow Traders U.S. LLC purchased a new position in ProShares UltraShort Bloomberg Crude Oil during the third quarter valued at $229,000.

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