ProShares K-1 Free Crude Oil ETF (BATS:OILK) Shares Down 3.3% – Should You Sell?

Shares of ProShares K-1 Free Crude Oil ETF (BATS:OILK) dropped 3.3% on Thursday. The stock traded as low as $55.01 and last traded at $56.04. Approximately 85,247 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 207,012 shares. The stock had previously closed at $57.98.

ProShares K-1 Free Crude Oil ETF Stock Down 3.3%

The firm has a market cap of $98.63 million, a P/E ratio of 30.33 and a beta of 0.50. The business has a fifty day simple moving average of $54.23 and a 200-day simple moving average of $54.11.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Arlington Capital Management Inc. purchased a new stake in ProShares K-1 Free Crude Oil ETF in the second quarter worth about $4,846,000. Green Ridge Wealth Planning LLC lifted its holdings in shares of ProShares K-1 Free Crude Oil ETF by 18.9% during the second quarter. Green Ridge Wealth Planning LLC now owns 65,570 shares of the company’s stock valued at $3,114,000 after purchasing an additional 10,410 shares during the last quarter. Ethos Financial Group LLC purchased a new position in shares of ProShares K-1 Free Crude Oil ETF during the first quarter valued at approximately $2,622,000. Integrated Wealth Concepts LLC bought a new stake in shares of ProShares K-1 Free Crude Oil ETF in the 2nd quarter worth approximately $57,000. Finally, Guardian Wealth Advisors LLC NC boosted its position in shares of ProShares K-1 Free Crude Oil ETF by 46.5% in the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 22,963 shares of the company’s stock worth $1,091,000 after purchasing an additional 7,286 shares in the last quarter.

About ProShares K-1 Free Crude Oil ETF

The ProShares K-1 Free Crude Oil Strategy ETF (OILK) is an exchange-traded fund that mostly invests in crude oil commodities. The fund tracks an index holding three separate contracts at equal-weighting with different roll schedules. OILK was launched on Sep 26, 2016 and is managed by ProShares.