Short Interest in ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Decreases By 25.9%

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 573,600 shares, a decrease of 25.9% from the August 31st total of 773,600 shares. Based on an average daily volume of 2,340,200 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 2,340,200 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at about $70,000. XTX Topco Ltd acquired a new stake in ProShares UltraShort Bloomberg Crude Oil during the second quarter valued at approximately $235,000. EverSource Wealth Advisors LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the second quarter worth approximately $271,000. Flow Traders U.S. LLC acquired a new position in ProShares UltraShort Bloomberg Crude Oil in the second quarter worth approximately $563,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in ProShares UltraShort Bloomberg Crude Oil by 11.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,000 shares of the exchange traded fund’s stock worth $777,000 after buying an additional 4,653 shares during the last quarter.

ProShares UltraShort Bloomberg Crude Oil Trading Down 3.0%

Shares of SCO stock opened at $17.64 on Tuesday. ProShares UltraShort Bloomberg Crude Oil has a 1 year low of $14.57 and a 1 year high of $24.51. The business’s fifty day moving average is $17.13 and its 200-day moving average is $18.25.

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.