ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Hits New 12-Month Low – What’s Next?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)’s stock price hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $19.28 and last traded at $19.41, with a volume of 5395093 shares trading hands. The stock had previously closed at $19.85.

ProShares UltraShort Bloomberg Crude Oil Trading Down 2.0%

The firm’s fifty day simple moving average is $23.99 and its two-hundred day simple moving average is $27.81.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

A number of institutional investors have recently bought and sold shares of SCO. Brookstone Capital Management purchased a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at about $8,930,000. Talon Private Wealth LLC purchased a new position in ProShares UltraShort Bloomberg Crude Oil in the 1st quarter worth approximately $8,517,000. Spectrum Financial Alliance Ltd LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil in the 1st quarter worth approximately $5,611,000. Group One Trading LLC boosted its stake in 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 worth $1,858,000 after purchasing an additional 191,767 shares during the period. Finally, Integrated Investment Consultants LLC purchased a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at approximately $946,000.

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.