ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Short Interest Down 46.0% in March

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 3,892,807 shares, a drop of 46.0% from the March 15th total of 7,208,206 shares. Based on an average daily volume of 42,983,049 shares, the short-interest ratio is currently 0.1 days. Currently, 3.0% of the shares of the company are short sold.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

Several hedge funds have recently bought and sold shares of the company. Corigliano Investment Advisers LLC acquired a new stake in ProShares UltraShort Bloomberg Crude Oil in the 4th quarter valued at about $941,000. Jump Financial LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil in the 4th quarter valued at about $2,526,000. Tower Research Capital LLC TRC raised its holdings in ProShares UltraShort Bloomberg Crude Oil by 33.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 52,266 shares of the exchange traded fund’s stock valued at $1,025,000 after acquiring an additional 13,212 shares during the period. Group One Trading LLC raised its holdings in ProShares UltraShort Bloomberg Crude Oil by 99.5% in the 4th quarter. Group One Trading LLC now owns 31,554 shares of the exchange traded fund’s stock valued at $619,000 after acquiring an additional 15,738 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in ProShares UltraShort Bloomberg Crude Oil in the 3rd quarter valued at about $61,000.

ProShares UltraShort Bloomberg Crude Oil Trading Down 5.2%

NYSEARCA:SCO traded down $0.42 during mid-day trading on Monday, hitting $7.65. The stock had a trading volume of 67,668,029 shares, compared to its average volume of 21,347,723. ProShares UltraShort Bloomberg Crude Oil has a twelve month low of $7.40 and a twelve month high of $23.33. The company’s 50 day simple moving average is $11.56 and its 200 day simple moving average is $16.09.

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.