ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Stock Short Interest Jumps 106.4%

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) saw a large increase in short interest in October. As of October 15th, there was short interest totaling 2,521,203 shares, an increase of 106.4% from the September 30th total of 1,221,619 shares. Currently, 4.8% of the company’s stock are sold short. Based on an average trading volume of 5,699,392 shares, the short-interest ratio is presently 0.4 days.

ProShares UltraShort Bloomberg Crude Oil Stock Performance

Shares of SCO stock traded down $0.10 during trading hours on Friday, hitting $15.65. 5,652,614 shares of the company were exchanged, compared to its average volume of 7,062,208. ProShares UltraShort Bloomberg Crude Oil has a one year low of $15.26 and a one year high of $84.14. The business’s 50-day simple moving average is $19.87 and its two-hundred day simple moving average is $33.20.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Talon Private Wealth LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil in the 1st quarter worth about $8,517,000. Spectrum Financial Alliance Ltd LLC acquired a new stake in ProShares UltraShort Bloomberg Crude Oil in the 1st quarter valued at approximately $5,611,000. Group One Trading LLC raised its stake in ProShares UltraShort Bloomberg Crude Oil by 607.7% during the 1st quarter. Group One Trading LLC now owns 223,321 shares of the exchange traded fund’s stock valued at $1,858,000 after acquiring an additional 191,767 shares in the last quarter. Integrated Investment Consultants LLC acquired a new position in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth $946,000. Finally, Bank of New York Mellon Corp bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter worth $832,000.

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.